Salt Lake Community College President Frank Budd says a "great partnership" between his school and Union Pacific Corp. will bring millions of dollars to the state's economy over the next few years.
Budd made the comments at a Thursday news conference where Gov. Norm Bangerter announced that SLCC and Union Pacific will jointly build a $15 million training center and science facility on the college's Redwood Road campus.The new center will house high-tech classes for Union Pacific employees and provide new science labs for SLCC students.
During the next five years, Union Pacific will train 7,500 employees in the facility. UP President and Chief Executive Officer Drew Lewis predicted that the arrangement will bring in $1 million in tuition and fees annually to the college.
The building will be financed with a $5 million, 10-year revenue, which will be guaranteed and amoritized by Union Pacific, and $9.6 million from the state. The state financing is proposed in the governor's bonding package currently being considered by the Legislature.
Budd said Union Pacific will also pay a share of the operating costs and maintenance of the 110,00 square-foot facility and will add $2.3 million in technological equipment.
If approved, the center would be completed by fall 1994.
At SLCC, Union Pacific employees will be trained in safety issues and handling of hazardous materials. Budd said SLCC already has been offering Union Pacific employees classes in electronics, welding and bridge building.
SLCC officials believe the proposed facility will provide science laboratory space to meet the growth needs of the college. Since 1985, both life science and physical science enrollments at SLCC have increased by more than 200 percent.