Amarillo Announces $69M Investment in Veterinary School to Meet Regional and Global Demand
AMARILLO, Texas, May 9, 2018 /PRNewswire/ -- Yesterday, the Amarillo City Council approved an amendment to a 2016 agreement between the Texas Tech University System and the Amarillo Economic Development Corporation (AEDC) to fund up to $69 million to ensure the construction of the Texas Tech University School of Veterinary Medicine (TTU SVM) in Amarillo, TX and the creation of 95 new direct jobs and more than 270 indirect jobs.
"The investment in a veterinary school in Amarillo has huge economic implications and enhances our educational opportunities for generations to come," said Amarillo Mayor Ginger Nelson. "Amarillo sees the return that will come on this investment. Our community has the determination and drive to make this educational and economic opportunity a reality."
The TTU SVM will be the only veterinary school in the country co-located with a pharmacy and medical school on the same campus, thus expanding opportunities to combine research efforts impacting both human and animal health.
"The Veterinary School will provide our community and our region with decades of economic growth," said AEDC Board of Directors Chairman Brian Heinrich. "AEDC has the opportunity to position Amarillo as a hub for innovation in the human and animal health science industries--industries driving a multi-billion dollar global market. The Veterinary School will provide an exceptional return on our investment not only to Amarillo but to the generations of families throughout the Panhandle and the State of Texas working in our livestock and food supply systems."
The TTU SVM directly addresses the critical shortage of veterinarians serving rural communities in a cost-effective manner by eliminating the creation of a teaching hospital and partnering with local and regional veterinarians. In 2016, the Texas Higher Education Coordinating Board adopted a report reiterating the critical shortages of large animal and rural veterinarians in Texas, and the negative impact on global food supplies.
The project has drawn industry-wide support including Texas Cattle Feeders Association, Texas and Southwest Cattle Raisers Association and the Texas Farm Bureau.
"Throughout the history of the Texas Tech University System, the Amarillo community has helped set the standard for support and cultivation of higher education opportunities," said Texas Tech University System Chancellor Robert Duncan. "Now - our partnership is taken to the next level. We are grateful for Amarillo's partnership and shared vision for transforming the landscape of veterinary education to ensure the prosperity of our vital agricultural industries. Amarillo's commitment to bring the School of Veterinary Medicine to the Texas Panhandle will have an impact on a national and global scale. We are endlessly grateful for their spirit of support, partnership and determination."
Currently employing more than 1,700 individuals, the Texas Tech University Health Sciences Center Amarillo campus provides the region with over $166 million in annual economic impact. When the Veterinary School is established, the total economic impact of the campus is estimated to exceed $242 million annually for Amarillo, making it the community's eighth largest employer.
For more information, visit the amarilloedc.com
Contact: Reagan Hales, VP
Amarillo Economic Development Corp.
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SOURCE Amarillo Economic Development Corporation