Concord College Ranks Third for In-State Spending

For Immediate Release: 
Feb 06 2002

Concord College Ranks Third for In-State Spending

Athens, W.Va. - In a report just released by the West Virginia Higher Education Policy Committee, Concord College ranked third out of the state’s public colleges and universities for in-state spending for the fiscal year of 2001.

Legislation passed by the state legislature in 1995 allowing the state’s colleges and universities to handle their own procurements also requires them to file a report to the HEPC on how they spend their money. In addition, the institutions are required by law to give preferential consideration to businesses and contractors having locations in West Virginia.

Compared to other higher education institutions in the state, Concord ranked third for in-state spending, with 71 percent of the cost of doing business going to West Virginia companies or to firms having locations in the state. This figure is up nine percentage points from fiscal year 2000, and 20 percentage points higher than the first report released for fiscal year 1995.

John Ferguson, chief procurement manager at Concord College noted that a large portion of Concord’s in-state spending remains here in the local area. He further pointed out that a large percentage of local spending stays on the College’s campuses in Mercer and Raleigh counties in the form of salaries for contracted employees.

Dr. Jerry Beasley, president of the college said, "Our in-state spending is relatively high in terms of percentage and absolute dollars. John Ferguson is justifiably proud of our record." However, Mr. Ferguson refused to take full credit, stating that it was a "campus effort" in that faculty and staff members requiring materials and supplies always attempt to find them locally.

Ranking higher than Concord was the Osteopathic School of Medicine, with in-state spending of 76 percent, and Marshall University, with 74 percent.