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A growing backlog of capital needs in higher education is struggling to be met because of a declining amount of funds available, according to a recent report.
Gordian, a facility and construction cost data company, reported in its annual State of Facilities in Higher Education report shows a 19 percent reduction in year-over-year investments as major capital projects were slowed or halted as expenditures were less available.
“Across higher education, focused facilities stewardship and capital planning are more critical than ever,” says Mark Schiff, Gordian president. “The findings from this year’s report further invigorate our mission to help institutions prioritize investments and drive meaningful outcomes within their communities.”
Among the highlights from the report:
Gordian used data from more than 52,000 facilities in higher education, representing about 300 campuses across North America.
Dave Lubach is managing editor, Facility Group.