SOUTH BEND, IND. (May 3, 2007) – The new two-year state budget approved by the legislature provides Ivy Tech Community College with a 6.4 percent increase in operating funds this year and a 6.0 percent increase next year.  In addition, the Legislature provided Ivy Tech $163 million of capital cash and/or bonding authority to expand current facilities and build new facilities around the state.

“We are pleased that the general assembly recognized our need for new and improved classroom and laboratory facilities,” President Gerald I. Lamkin said. “We appreciate the state’s investment in Ivy Tech Community College.”

A recent study of Ivy Tech’s facilities conducted by an independent organization, identified a college-wide deficit of approximately 512,000 assignable square feet.  Ivy Tech’s academic assignable square feet per full-time equivalent (FTE) student is the lowest in the state.  The addition of these new facilities will allow Ivy Tech to serve even more Hoosiers.  A review of Ivy Tech’s last ten capital projects shows an FTE increase of between 10-15 percent for the semester the new building is placed into service over the previous year. 

The $163.2 million capital cash and/or bonding authority is for 10 different projects including: Fort Wayne ($26.7 million), Indianapolis-Fall Creek ($69.37 million), Logansport ($16 million), Sellersburg ($20 million), Warsaw ($1 million), Muncie ($4.8 million), Elkhart ($16 million), Greencastle ($8 million), Bloomington ($350,000) and the Lamkin Center ($1 million).  In addition there is a $1.6 million line item for the lease of a building in Portage and a $1 million line item for public safety academy in Fort Wayne.

A recent study by Workforce Associates, Inc, shows that Ivy Tech makes a significant impact on Hoosiers and the state’s economy. The College’s total contribution to the Indiana economy exceeds $700 million.  The report shows that he annual rate of return for taxpayers is over 15 percent and for every dollar the state of Indiana invests in Ivy Tech the total economic impact is over five dollars.

In the operating budget, full funding of the enrollment change formula was critical for Ivy Tech.  Between 1998-99 and 2005-06, Ivy Tech’s full-time equivalent enrollment has grown by 81 percent.  Enrollment reached new record levels in 2006-07.  Additional state funding through the enrollment change formula will allow the Ivy Tech to add new full-time faculty and other staff necessary to serve the growing number of students. 

Ivy Tech Community College is the state’s second largest public post-secondary institution with over 105,000 students enrolled annually.  Ivy Tech has 23 campuses throughout Indiana.  It serves as the state's engine of workforce development, offering affordable degree programs and training that are aligned with the needs of its community along with courses and programs that transfer to other colleges and universities in Indiana.  It is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools.