By Rebecca Rose
Killeen Daily Herald
HARKER HEIGHTS — The City Council on Tuesday approved a $50,000 Economic Development Incentive aimed at providing scholarships for students at Texas A&M University-Central Texas.
The city approved funding for the Friends of Texas A&M-Central Texas, a foundation which in turn grants scholarships to the university. Harker Heights is part of a consortium of other entities providing money to the foundation, including the Killeen Economic Development Corporation and the Copperas Cove Industrial Foundation.
“Every dime of this fund is used for scholarships,” said Bobby Hoxworth, chairman of the Friends of TAMU-CT foundation, “The foundation is not at this time building endowments.”
Hoxworth said the approval of the funding would automatically trigger an additional $50,000 in matching funds.
This is the third year Harker Heights has provided the funding. The scholarships are part of an economic development program, designed to attract businesses to the area.
“What we accomplish here with (the) university and this agreement is that we create a more educated workforce,” Hoxworth said. “That attracts more businesses.”
But the incentive does more than creative economic benefits, according to City Manager Steve Carpenter. He said having a university close by provides more educational opportunities for military spouses and others.