Located next door to Westerlin on Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø's upper campus, Erickson Residence Center can serve up to 350 students. The renovation project will include a new HVAC system, windows, bathrooms, flooring and storage/cabinets in residence hall rooms.
Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø receives $6.7 million from Illinois Board of Higher Education
A $6.7 million Independent Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍøs Capital Investment Grant from the Illinois Board of Higher Education (IBHE) is being used to renovate Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø¡¯s Erickson Residence Center. A total of $400 million was awarded to 45 higher education institutions in Illinois with an eye on building the state¡¯s future workforce.
According to IBHE, the grants are intended to provide financial assistance to private, not-for-profit colleges and universities in Illinois for the construction, repair and renovation of infrastructure on campuses to provide equitable learning experiences to students across the state.
¡°Capital funding like this is heavily leveraged by donations to the college, forming in effect a public-private partnership that builds Illinois¡¯ future economic capacity.¡±
The Erickson renovation began in early January and is expected to continue through August 2024. Improvements include a new HVAC system, windows, bathrooms, flooring and storage/cabinets in residence hall rooms. The first phase of the project is estimated to cost $5.6 million. Remaining grant dollars will be applied to the second phase of the project, estimated to cost between $5.6 million to $6 million. Bush Construction is the general contractor.
Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø¡¯s Chief Financial Officer and Vice President of Administration Kirk Anderson said the investment of grant funding highlights the partnership between the state of Illinois and private schools.
¡°Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø and other beneficiaries of this grant are able to multiply the impact of the state¡¯s funding by investing in students who go on to become leaders in their fields,¡± said Anderson. ¡°Capital funding like this is heavily leveraged by donations to the college, forming in effect a public-private partnership that builds Illinois¡¯ future economic capacity.¡±
According to the Federation of Independent Illinois Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍøs and Universities (FIICU), private schools enroll 25% of Illinois college students, yet produce 42% of all bachelor¡¯s and 64% of all master¡¯s degrees. This is the return on Illinois appropriations, accounting for about 8% of the state's total investment in higher education.
Additionally, FIICU reports independent colleges and universities cumulatively rank as one of the largest employers in Illinois, employing more than 68,000 faculty and staff. The combined economic impact is more than $21 billion, according to a 2021 FIICU report.
Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø¡¯s overall economic impact was $147,969,988 in fiscal year 2020, the most recent available report by FIICU. Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø employs 640 full-time and part-time employees.
¡°Improvements to Erickson Residence Center will serve our students by providing enhanced living and studying spaces,¡± said Anderson. ¡°We¡¯re grateful to the state of Illinois for supporting this important project and helping Å·ÖÞ±ÍøͶ_Å·ÖÞ±ÍâΧapp-Ͷע¹ÙÍø build the leaders of tomorrow.¡±