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University can now purchase Wilsonville facility

The Oregon Legislature threw a parting gift to the Oregon Institute of Technology prior to the recent close of its 2013 session by approving some $10 million in bonds to complete the purchase of Oregon Tech’s Wilsonville campus and make improvements to the building.by: JOSH KULLA - Oregon Tech will be able to finalize the purchase of its Wilsonville campus, thanks to a bonding measure approved by the state Legislature.

Upon purchasing the Wilsonville Campus building, university officials said they will receive rental income exceeding the cost of the debt through its current third-floor sublease to Rockwell-Collins Inc. When those lease payments eventually cease, Oregon Tech will use this space for instruction as the Wilsonville campus increases enrollment.

“I’m very pleased our bonding package included funds to complete the Wilsonville Campus acquisition,” said state Rep. John Davis, a first-term Republican legislator from Wilsonville. “Not only does the purchase make financial sense, it continues to build on the incredible return on investment Oregon Tech provides to students. Again and again, Oregon Tech has helped students land high-paying, high-tech jobs faster than graduates of other schools.”

Davis and other Wilsonville area officials have long been excited about the relocation to Wilsonville of Oregon Tech.

In 2010, Oregon Tech announced its intent to consolidate four Portland-area facilities in one central location in Wilsonville. At the same time, the university entered into an 11-year lease agreement at the former In-Focus headquarters on Parkway Avenue.

The lease left options for the university to purchase the building any time during the 2013-2015 calendar years. The 2011 Legislative Assembly granted Oregon Tech $20 million in lottery bond funding to be used for the acquisition of the campus, while approximately $10 million was left to be funded.

With the $10 million in bonds approved during the 2013 legislative session, the university can now complete the purchase of the Wilsonville campus property.

Oregon Tech ranked fourth in starting salaries in the Western United States and first in the state of Oregon in the 2012-13 PayScale College Salary Report. According to PayScale, the average starting salary for graduates of Oregon Tech is $54,600 per year.

Nationally, this places Oregon Tech at the No. 38 spot in starting salaries out of the 1,058 colleges and universities on the list.

Oregon Tech’s post-graduate success rate in finding jobs exceeds 90 percent.

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