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Government Relations

UM Legislative Update

Life Sciences at the University of Missouri: Building Missouri’s Future

 
Requested Action

Build Missouri’s economic future by authorizing the Missouri Health and Educational Facilities Authority (MoHEFA) to issue bonds for $190.4 million* in life sciences infrastructure improvements on the four University of Missouri campuses.

What are the life sciences?

The life sciences involve a new interdisciplinary approach combining biology, medicine, agriculture and environmental sciences to address health issues, the environment and agriculture. It is about improving our food, our health, and our environment.

What would the proposed bonds pay for?

Across the nation, communities that have excelled in life sciences have invested in the infrastructure of their research universities. The University of Missouri is uniquely positioned to leverage the state’s investment by attracting significant federal and private resources that will create jobs, stimulate the economy and strengthen Missouri’s role as a life sciences leader. The proposed bond issue would help fund six projects across the UM System that are critical to Missouri’s life sciences efforts:

Missouri will see major returns on a relatively small investment

An analysis of the economic impact of these projects demonstrates that Missouri would see incredible returns on its investment:

*Total cost of the six projects is $190.4 million. A bond issue of $237.7 million would be needed if repayment is delayed until FY2008 in order to provide a debt service reserve fund and a capitalized interest fund.

**Economic model IMPLAN predicts that every dollar brought into the university creates $1.831 in economic output in Missouri. The same study shows that every $1 million brought into the university supports 39.292 jobs in the community or state.