CHARLESTON -- Two bills signed by Gov. Joe Manchin on Thursday put Marshall University and Marshall Community and Technical College in line for millions of dollars.
The "Bucks for Jobs" program, originally introduced by the governor during his State of the State address in January, will divide $50 million in state money between West Virginia University and Marshall University if they can obtain private donations to match it.
Paul Hill, vice chancellor for science and research at the West Virginia Higher Education Policy Commission, said the bill will increase research efforts at the state universities and generate new businesses and create thousands of jobs. The allocated money is limited to hiring new science faculty and making improvements to the universities' laboratory facilities, equipment and capabilities.
"Focusing on research efforts creates an opportunity for new types of technical jobs in the state. It changes the state's ability to diversify the job landscape," Hill said. "The universities are catalysts to new types of knowledge that will help drive the economy of the state."
The program is modeled after the "Bucks for Brains" research program started in Kentucky. The research at the universities of Kentucky and Louisville has resulted in more than 60 new companies since the program began 10 years ago.
West Virginia's program will allocate $35 million to West Virginia and $15 million to Marshall, provided both schools can match the funds with private donations within five years. If one university doesn't reach its prescribed private match, its state dollars could go to the other university. But the other university still must match the state's money with private funds.
Marshall President Stephen Kopp said the university already made plans to hire nine new faculty members dedicated to scientific research. Through grants, research patents and contracts created out of research, Kopp said the program will be self sustaining.
According to Kopp, an independent analysis said the proposed research efforts will create 1,100 new jobs after the first decade of implementation and 3,400 after the second decade.
"We've been watching other states and seeing what's happening with their research programs, but now states will be looking to West Virginia," Kopp said. "It's nice to see West Virginia in the leadership role."
Another bill signed into law, SB 682, authorized the Higher Education Policy Commission to issue revenue bonds for community and technical college capital improvements.
Keith Cotroneo, president of Marshall Community and Technical College, said the $13.5 million allocated to MCTC will go toward the construction of a separate facility. Currently, the college shares facilities with Marshall University.
"We have tentative renderings of the facility but have not yet settled on the location of the facility," Cotroneo said. "Having our own facility is essential for long term development of the community college."
Lead bill sponsor Sen. Bob Plymale, D-Wayne, said the recently approved law coupled with HB 3215, a new law that will separate technical and community colleges and their parent universities, made this past session one of the most substantial sessions for education in years.
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