November 4, 2009
An approved amendment to the state constitution means Texas Tech could receive millions of dollars in new grant money.
The passage of Proposition 4 on Tuesday's ballot gave the state the green light to reallocate about $500 million in existing money from a dormant higher education fund to a new one geared to cultivate more Tier One universities across the state. Having Tier One status makes universities more competitive for federal and private research funding and brings in billions of dollars in economic impact.
Tech and six other emerging public research universities stand to receive millions of essential Tier One research dollars from the new National Research University Fund if they meet its eligibility requirements.
"This is spectacular," Tech President Guy Bailey said, "probably the most important day in the history of this institution since its founding."