College construction in the U.S. totaled more than $14.5 billion in 2005, including $9.8 billion spent on entirely new buildings, according to the “2006 College Construction Report” published by College Planning & Management magazine. Projections for future construction indicate that college and university construction will continue to expand. Locally, the St. Charles County Business Record recently reported that one of the largest economic impacts from Lindenwood College has come from construction. Lindenwood estimated that the economic impact on St. Charles County from its construction projects alone is $175 million a year.
In Missouri, Governor Matt Blunt has approved a university construction plan that will include nearly $314 million in 22 construction projects at state colleges and universities. The construction program will be financed through the sale of $350 million in student loans.