ASU trustees approve $48 million in capital projects
The Arkansas State University Board of Trustees on Thursday (Sept. 19) in a special meeting approved nearly $48 million in capital projects at Arkansas State University in Jonesboro, including a home for its new College of Veterinary Medicine.
The approvals occurred prior to a groundbreaking ceremony for the previously approved $28.2 million, 38,887-square-foot Windgate Hall of Art and Innovation, which will house spaces for the Department of Art + Design and the College of Engineering and Computer Science to support creative and learning activities for students.
Design and construction of the College of Veterinary Medicine facility is estimated at $33.2 million. The university plans to fund the building through the issuance of taxable Student Fee Revenue Bonds totaling $30 million and institutional reserves of $3.2 million. Tuition and fees from CVM students will ultimately fund debt service for the construction.
The move follows a recent consultative site visit by the American Veterinary Medical Association’s Council on Education, which reviewed A-State’s progress on facilities, policies and personnel for the college. The university plans to admit its first cohort of students in 2026.
“As someone who has been involved as an advocate of agriculture for the past 25 years, the need for a vet school in Arkansas has been a constant conversation,” said Trustee Steve Eddington, who is vice president of public relations at Arkansas Farm Bureau Federation. “This is an important step toward delivering on that need. Congratulations to Dr. [Todd] Shields and his team for getting it to this point. The vet school is one of many wonderful efforts under way on campus.”
The bond funding plan adopted by the board calls for a term not to exceed 30 years with an anticipated average interest rate of 5.5% and average annual debt service of just over $2 million. The ASU System will obtain the required advice of the Arkansas Higher Education Coordinating Board regarding the economic feasibility of the project.
The board also authorized A-State to proceed with the purchase of $10 million of equipment to be used in the creation of the Center for Advanced Materials and Steel Manufacturing. The project will be funded through federal grant funds that were requested by U.S. Sen. John Boozman, R-Arkansas.
A-State will use the high-tech equipment for a multimillion-dollar facility that will advance the rapidly growing steel industry in the Arkansas Delta and throughout Northeast Arkansas. The region is the nation’s leader in steel in production, with more than 20 steel-related companies employing some 3,600 workers and another $3 billion facilities under construction creating another 900 jobs.
The university anticipates close partnerships with steel manufacturers for research, process improvements, testing of advanced materials and steel manufacturing while training a growing professional workforce for the industry and region.
“It’s been a long process, but the steel project and vet school are very important to the state and will transform lives,” Trustee Paul Rowton said.
Trustees approved a $4.76 million renovation of Northpark Plaza at A-State, located at East Johnson Avenue and North Caraway Road. The facility will be used to support initiatives to strengthen Home and Community Based Services for Medicaid beneficiaries as part of The HOWL (Helping Our Wolves Learn) RESTORE (Research, Education, Service, Transition and Outreach through Reflective Engagement) Hub on campus.