On Tuesday November 3, voters in Texas approved an amendment which frees up $500 million for Texas Universities trying to become tier 1 research institutions. Texas is already home to 3 tier 1 schools: UT, A&M, and Rice, and there are 7 schools looking to make the jump up to tier 1 status: UT-Dallas, UT-Arlington, UT-El Paso, UT-San Antonio, Texas Tech, Houston, and UNT.
More individuals with higher education, means a higher quality of life, better infrastructure, and more skilled workers. More skilled workers raise wages across the board, and improve the quality of work in the state. All 3 things lead to higher home prices in the future.
More engineers, scientists, and researchers improve our knowledge about our world, which leads to new innovations, better construction methods, and more efficient work models. In the future Texas will be better prepared and informed in the construction of new homes as well as business practices.
Better construction practices means less foundation repair
All in all more tier 1 universities in Texas, makes sense.