The Midland Development Corporation Approves Funding for The University of Texas at the Permian Basin New Engineering Building
1 Oct 2017
Author: Midland Development Corporation
October 2, 2017 (Midland, Texas) – The Midland Development Corporation (MDC) approved an agreement with The University of Texas at the Permian Basin (UTPB) for the construction of a new engineering building and for the establishment and management of an incubator and makerspace to be located at the Center for Energy & Economic Development (CEED) building.
UTPB has plans to construct an 80,000 sq. ft. facility to be located at the intersection of FM 1788 and HWY 191 to house UTPB’s mechanical, nuclear, aerospace, petroleum, chemical and electrical engineering programs.
UTPB is currently pursuing program approval and accreditation in its chemical and electrical engineering programs.
Funds from the MDC will be used for the build out of the third floor of the new facility which will house UTPB’s newly-established engineering programs, as well as the management and operation of a business incubator and makerspace at the CEED. The incubator/makerspace, on behalf of the MDC, will serve the community and promote new and expanded business enterprises in the City of Midland.
MDC contribution to the engineering programs at UTPB is an important project that will contribute to the development and diversification of the Midland economy and will provide job training and expanded higher education opportunities.
The MDC will provide up to $5 million over a five-year period to help complete UTPB’s proposed College of Engineering building. Contingent upon this, up to 10,000 sq. ft. of space in UTPB’s CEED building will be used to house a makerspace/incubator, as defined in a previously approved term sheet.
The Midland Development Corporation (MDC) promotes the City of Midland and incentivizes qualified employers who create and retain a diversified job market in the greater Midland, Texas, region. MDC promotes business expansion and job creation through an established business climate and a strong community. MDC is an effective steward of sales tax revenue to efficiently grow Midland’s economic stability and the quality of life.
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