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As a part of current budget amendments, a total of $50 million has been announced by Governor Bob McDonnell towards investment in higher education. This news was delivered by the Governor at his Commission’s third meeting on Higher Education Reform, Innovation and Investment held at Richmond’s Virginia Commonwealth University.

Focusing on affordable access, reform based investment and economic opportunity; recommendations were made to the Governor through commission votes. In the coming weeks, the Governor will be reviewing these recommendations that will be presented to him in the interim report.

There is a proposal by the Governor to get the General Assembly to pass a higher education legislation that will help students prepare for some of the 21st Century’s top jobs. This sustained program is designed to enhance the number of Virginia students obtaining college degrees which in turn will help them be a global economy leader.

The Governor has set a goal of producing more than 100,000 graduates in Virginia in the next fifteen years. Keeping this as a priority state policy, the Governor said that this $50 million is a down payment towards achieving this goal.

He reiterated the fact that it is of utmost importance in this 21st to obtain a college degree in order to ensure access to jobs that pay well. Citizens must be provided with high quality education that is affordable too in order to ensure future prosperity and competitiveness. Though recent trends have been challenging, this reality must be addressed and we must strive to reverse the trend where people have started disinvesting in higher education, he said.

He went on to say that in order to help students compete with their peers both in our country as well as around the world, they must be equipped with enough resources and tools. According to him, Top Jobs Legislation, if passed along with amendments in the budget will help with both short and long term economic gains.

He also said that an intensive planning process will be set into motion by this legislation in the next year. A new funding model will come into effect for higher education that will initiate college and universities innovation and maximizing the impact of economy through incentives.

The governor stressed on the importance of research and development and said that since economic competitiveness of the state depends on these factors they will receive priority too through tax credits. There will be continued focus on STEM in the coming year where there will be efforts to increase production of STEM degrees through a comprehensive public-private strategy.

Governor Bob McDonnell stressed the need to focus on these core areas of education as most of tomorrow’s jobs according to him originate from them. In order to ensure a strong and dynamic Commonwealth by ensuring prosperity through new job creations, he said that higher education must be made accessible and affordable to Virginia students.

The Governor was applauded for his down payment on future of higher education, his action and his vision by Gerard Robinson, Secretary of Education.