2020 Comprehensive Annual Financial Report

manufacturing operations supports the auto, aerospace and medical industries. With Core Tech already manufacturing vaccine plunger rods for plastic syringes in the millions, production is projected to climb into the hundreds of millions to support future vaccines thereby doubling Core Tech’s annual revenue. The company’s close collaboration with various industries as well as the Joint School of Nanoscience and Nanoengineering located next door, continues to attract both global customers as well as local commercial and corporate entities. The City of Greensboro funded $1.2 million for the project. The projections for Gateway’s 75-acre South Campus include 10-12 additional buildings, driving greater economic growth.

Several of the area colleges and universities are also experiencing significant capital construction . In 2016, North Carolina voters approved NC A&T State University (A&T) and UNC Greensboro (UNCG) for a combined $195 million in Connect NC Bond funding. Following the opening of its $90 million newly constructed 150,000 square-foot student center, A&T is investing $90 million for construction of a new 130,000 square-foot, four-story Engineering Research and Innovation Complex (ERIC). A&T began the bidding process for the construction of ERIC in April 2019 and is on track to complete the project in 2021. UNCG is in the construction phase of a new $105 million, five-story Nursing and Instructional building with occupancy expected by spring 2021. The $76 million state-of-the-art chiller plant, built in coordination with the Nursing and Instructional building, was completed in 2020. In addition, UNCG completed a $51 million student residence hall in 2019 as the final piece of its Spartan Village student housing development. The mixed-use project includes retail space and pedestrian walkways connecting residence halls and the Kaplan Center for Wellness. At Guilford Community Technical College (GTCC), $34 million in renovations for the new Center for Advanced Manufacturing has now been completed. The school’s transportation and welding programs will be located in the 250,000 square-foot building and will include a flex lab for use by companies for employee training. Overall, the Piedmont Triad region received $355 million in funding from the $2 billion state bond package, approved in March 2016. Since September 2014, A&T has ranked number one as the largest historically black college and university in the country. Fall 2020 enrollment numbers marked A&T’s fifth consecutive year of record enrollment at 12,754 students, an increase of 1.6% over the 2019-20 academic year and 2,029 students or 19% since 2014. Much of the increase in enrollment numbers can be attributed to the institution’s newly revised strategic plan, A&T Preeminence: Taking the Momentum to 2023. The plan sets an enrollment goal of 14,000 students by its conclusion.

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