The Resolutions Create a Permanent Endowment for
Technical Training at TSTC and Lamar State Colleges
Tens of thousands of jobs go unfilled in Texas every single day. Most Texas employers continue to struggle to find enough technically trained employees to sustain and grow their businesses. Many employers are in underserved geographies for technical training. Employers in some of the fastest growing regions in Texas need access to technical training facilities that produce the skilled workforce they desperately need. TSTC and the Lamar State Colleges are proven producers of graduates for the high-value, high-demand jobs employers need to be filled. Employers consistently choose Texas State Technical College (TSTC) graduates first when hiring new talent. TSTC has a job placement rate of 85%. Unlike community colleges, TSTC and the Lamar State Colleges do not have local property tax authority, so when these colleges need to grow and expand to meet their local community’s workforce demands, they must rely on the Texas Legislature for periodic funding or bonding authority (TRBs).
How does an endowment for TSTC & Lamar’s meet the needs of Texas employers?
An endowment allows for a quicker response to market demands. Without a reliable source of capital funding, employers’ needs go unmet or are seriously delayed, impacting their bottom lines because TSTC and the Lamar State Colleges are not able to respond to their needs in real time. An endowment promotes philanthropic giving by industries in need of skilled workers. Sustainable funding for growth at TSTC and Lamar State Colleges creates opportunities for employers to invest in their workforce needs through philanthropic giving as a sustainable investment for their own growth.
An endowment provides an incentivize for local communities to fundraise. Local communities that qualify for a TSTC or Lamar campus can accelerate the process, resulting in communities building workforce opportunities for current and future employers. An endowment creates an opportunity for a statewide Capital Campaign. For the TSTC system, the TSTC Foundation can use the establishment of an endowment as a springboard for a statewide capital funding drive to leverage private and state funds to provide workforce training opportunities both locally and statewide for regional and national employers.
HJR 201 by Rep. Terry Wilson would create a $1.5 billion endowment for both Texas State Technical College (TSTC) and the Lamar State Colleges, with TSTC allocated two-thirds, and Lamar State Colleges one-third. SJR 81 by Sen. Brian Birdwell would create a $750 million endowment for the TSTC System, and would not include the Lamar’s. Lawmakers will hammer out the difference between the two proposals.
The Advanced Power Alliance joins the the organizations, trade associations, and businesses listed below to fully support the creation of a constitutionally dedicated fund to support CTE and workforce training expansions statewide for Texas State Technical College (TSTC), and regionally at the Lamar State Colleges.
