Yesterday, the General Assembly approved the Higher Education Bond initiative that provides $1.5 billion in new capital construction to Virginia’s colleges and universities. As Brian Moran said:

“This funding will be a great step in our efforts to compete in the 21st century global economy,” said Delegate Moran. “Last spring I traveled to India on the Governor’s Trade Mission and toured the Indian Institute of Technology. India and China produce as many engineers each year as we will produce this decade. If we want to compete and win, we have to invest in higher education so we have the capability to do groundbreaking research in the life sciences and nanotechnology and biotechnology.

We have thousands of new graduates that want to go to Virginia’s public colleges and today’s effort will help make sure we have room for them.”

As the Washington Post reported:

Most of the money will be spent on projects for community colleges and universities, including George Mason University in Fairfax County and the Northern Virginia Community College system. An additional $1 billion will be borrowed to spend on planning for another 25 projects.

Del. Brian J. Moran (D-Alexandria), chairman of the House Democratic caucus, said: "We've authorized the largest investment in construction at our colleges and universities in Virginia's history. This will help jump-start our construction industry while building capacity for our future."

The Washington Examiner also reported on the story.