GO Bond D will ensure college, university and specialty school students in New Mexico remain competitive with students from around the globe by improving infrastructure and providing the tools and materials needed for their success – with no increase in property taxes. This is possible because the funding in the 2018 GO Bond D measure would replace GO Bonds that passed in 2008 and are now being retired after a 10-year term. So, there would be no gain in GO Bonds for higher education.
No Increase in Property Taxes
Property Taxes Would Not Necessarily Go Down if GO Bond D Doesn’t Pass
While property taxes could go down in theory if GO Bond D doesn’t pass, it is unlikely this would happen. In 2010, the GO Bond for higher education failed. To the best of our knowledge, property taxes did not decrease in a single county in New Mexico following that election.
Global Competitiveness - STEM
It’s critical for New Mexico’s higher education institutions to keep up with evolving technology. Passage of GO Bond D will help ensure our students remain globally competitive in Science, Technology, Engineering and Math (STEM), critical to our local and national economies.
In fact, the fastest growing occupations in the U.S. require STEM skills. (Source: Georgetown University, 2013, Recovery Job Growth and Education Requirements through 2010.)
For our students to be successful, schools throughout our state must continue to renovate their aging facilities and improve their materials. The passage of GO Bond D will ensure New Mexico’s position in the national economy will continue to be strong.
Protecting Our Investments
New Mexico’s colleges, universities and specialty schools need repair and renovation to provide the highest quality education possible. We must continue to invest in them and keep them up to date. GO Bond D is about investing in what we already have – just as you would invest in your home. By investing in our institutions of higher education we can ensure they are producing generations of skilled individuals who can continue making New Mexico economically competitive – without raising property taxes.
The renovation of facilities throughout New Mexico acts as an economic boon for communities where these schools are located. The projects included in GO Bond D employ architects, planners, construction workers and provide for equipment, high-tech infrastructure and opportunities for all kinds of businesses up and down Main Street. If passed in 2018, GO Bond D would create an estimated 1,300 new jobs and help bolster many others.
A College Degree Provides Better Prospects for Employment
According to the Center for Higher Education and the Workforce Center at Georgetown University, 65% of jobs available in the U.S. will require at least some postsecondary education by 2020.
In recent decades, the United States has steadily transitioned from a manufacturing economy to a knowledge economy. According to the U.S. Bureau of Statistics, people with an Associate’s degree are twice as likely to be employed. (Source: The Chronicle of Higher Education (n.d.) College Completion. U.S. Department of Education. National Center for Education Statistics (n.d.) Digest of Education Statistics)
People with a Bachelor’s degree are three times more likely to be employed than people with only a high school diploma. (Source: The Chronicle of Higher Education (n.d.) College Completion. U.S. Department of Education. National Center for Education Statistics (n.d.) Digest of Education Statistics)
Higher Education Leads to Economic Development
The educational attainment of the labor force is one of the most important factors in the continuing economic development of New Mexico. The number of jobs requiring a bachelor’s degree or higher is projected to grow faster than jobs requiring a high schools degree of less. (Source: NM Department of Workforce Solutions (2015) New Mexico 2015 State of the Workforce Report: A Report Highlighting New Mexico’s Current and Future Workforce, pg. 39)
More Degrees Are Being Awarded in New Mexico
New Mexico’s colleges and universities have increased the number of certificates and degrees awarded by 35% in the past seven years. (Source: NM Higher Education Department)
A New Mexico College Education is Good Return on Investment
New Mexico was named second (2nd) in a list of seven (7) states where “college is worth the cost,” according to an article by Rebecca Safier in an article on credit.com in September 2017. Student Loan Hero crunched the numbers to figure out the ROI (return on investment) for colleges in all 50 states. According to the article:
- New Mexico students enjoy a high ROI on their college degrees. In fact, the average grad sees a return of 151%.
- Compared to workers without a college degree, college graduates see an average pay bump of $17,510.