Bond Measure to Provide a Financial Windfall for HBCUs in North Carolina

connectnc-logo-376x361As voters in North Carolina went to the polls to vote in the Republican and Democratic primaries for U.S. President, they also passed a referendum authorizing the issuing of $2 billion in bonds to support the state-operated colleges and universities, water and sewer systems, agriculture, state parks, public safety programs, and the North Carolina National Guard. The bond issue will raise nearly $1 billion for state universities and $350 million for state-operated community colleges. Interest on the bonds will be paid through the state’s general revenue funds and will not require a tax increase.

The state’s historically Black colleges and universities will get nearly 10 percent of the money from the bonds, a total of $190 million. For example, North Carolina A&T State University in Greensboro will receive $90 million to fund its Engineering Research and Innovation Complex, a business incubator that aims to be a catalyst for both short-term and long-term economic growth for the state. Other HBCUs that will be receiving funds are:

  • Elizabeth City State University will receive $13 million from the bond fund that will be used to renovate the G.R. Little Library and Moore Hall on campus.
  • Winston-Salem State University will receive $50 million for its Science Building.
  • North Carolina Central University will get $30 million for the School of Business.
  • Fayetteville State University was allocated $10 million for renovations to the Lyons Science Building.

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