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In an era in which jobs are scarce, the timing of multiple capital projects at the University of Wisconsin-Stevens Point could not be better for the local workforce and area contractors.
According to Carl Rasmussen, director of facilities planning, campus construction projects are pumping nearly $40 million into the regional economy over an 18-month period.
UWSP projects now underway include the 330 suite-residence hall, renovation of Steiner and Hansen residence halls, an addition for housing UWSP’s growing Department of Military Science, renovation of the campus maintenance facility, and a chilled water distributor for improved and more efficient air conditioning across parts of the university.
“The competitive environment for construction contractors in a depressed economy is yielding positive results,” said Rasmussen. “Construction contracts awarded over the past 15 months have been on average 32 percent below typical project costs from just two years ago. In my 20 years here at Point I’ve never witnessed a better time to stretch construction dollars.”
Over 80 percent of all ongoing campus construction projects are self-funded by the campus and its students, according to Rasmussen. In general, academic building projects at UWSP are predominantly funded through General Purpose Revenue (Wisconsin taxes), while nonacademic buildings such as residence halls and dining centers are self-funded through Program Revenue, assessments, fees and other revenue sources.
Last week UWSP opened bids on a waste management laboratory to be located along Maria Drive, estimated to cost $3.6 million. That bid came in 21 percent under the estimate at $2.8 million. The Maintenance and Materiel remodeling and addition will be bid on this June. Lastly, the bid to relocate the Department of Military Science will also take place in June.
