When there is good news, it is important to celebrate it — and say thanks.
Last week, students, families, employers and everyone with a stake in Virginia’s economy were given cause for celebration when our General Assembly, with Gov. Glenn Youngkin’s support, completed work on the new state budget.
The lawmakers’ actions raised the total new investment in our top-ranked higher education system to more than $400 million.
We write — on behalf of the business and higher education leaders who make up the Virginia Business Higher Education Council (VBHEC) and the thousands of students, parents and other grassroots supporters across the commonwealth who comprise our “Growth4VA” coalition — to applaud our elected officials for this forward-looking, bipartisan initiative.
Virginians are fortunate to be served by leaders in both parties who understand that higher education investments help turn talent into opportunity for our young people and grow our Virginia economy.
The direct connection between higher education and economic growth was already in focus this month, thanks to CNBC’s decision to award Virginia its “Top State for Business” ranking for an unprecedented sixth time. CNBC specifically cited the commonwealth’s recent investments in higher education and declared that our “best in the country” educational system is “Virginia’s biggest competitive strength.”
Grassroots Virginians in both parties understand and appreciate this. In our 2023 survey, more than 80% agreed that “Virginia’s universities, colleges and community colleges are a valuable public asset of the commonwealth of Virginia, are well run, and are a sound place to invest public dollars.”
To maintain the momentum and ensure all Virginians can access these opportunities, VBHEC business leaders visited the State Capitol in January to encourage lawmakers to invest in two higher education priorities: making college more affordable, and providing paid internships that lead to long-term employment in the commonwealth.
We stressed affordable talent pathways, including paid internships and other forms of work-based learning, because students from many communities lack work experience and employment connections while many Virginia businesses are struggling to find qualified workers. Connecting them before graduation benefits both and makes it more likely that talented young Virginians will stay here for their careers rather than move away.
As part of our college affordability push, we also urged state officials to fully fund the tuition waivers the commonwealth provides to military survivors and dependents, a program cherished by the families of our brave men and women who have sacrificed so much for all of us. Providing full state funding for these important benefits prevents a cost shift to other Virginia students through higher tuition.
We have been deeply gratified by the positive bipartisan response to VBHEC’s investment recommendations.
Last spring, the General Assembly and governor approved funding to expand paid internships, increase student financial aid and admission of Pell-eligible students, support HBCUs, provide more community college options, and keep tuition down by funding higher education operations.
Then, last week, lawmakers provided significant additional funding to help cover the cost of tuition waivers for military families.
Together, these actions increased Virginia’s biennial investment in our two- and four-year colleges by more than $400 million.
While this is a big step forward, it is no time to rest on our laurels. With nearby competitors such as North Carolina, Tennessee and Georgia all providing substantially more state support per student, maintaining our competitive advantage will be an ongoing challenge requiring continuous innovation, improvement and investment.
But this is the time to pause and thank our General Assembly members and their staffs, and the governor and his team, for putting partisan politics aside and providing resources that will help more young Virginians access top education and career opportunities without leaving the commonwealth.
Dennis H. Treacy is chair of the Virginia Business Higher Education Council and senior counsel at Reed Smith LLP. Kirk Cox was the 55th speaker of the Virginia House of Delegates and is president of the Virginia Business Higher Education Council.
