Tech rides into Lubbock’s economy

LUBBOCK – Texas Tech University announced that 33,111 students are registered for fall 2013 classes: a 16 percent increase over the past decade. Tech’s record enrollment has a significant impact on the city’s economy.

“Since I’ve been here, we’ve spent $450 million on construction projects," said Texas Tech Chancellor Kent Hance. "Also, we’ve moved 9,000 students to Texas Tech. That’s huge! Those students spend money. They know how to spend money." About 70 percent of the customers at the businesses across the street from Tech are students.

"It’s a three-way street," said Stephen Spiegelberg, a local business owner. "We’ve got a triangle going here. It’s Texas Tech, Lubbock and the economy. It’s a three-way system, and as one grows, they all grow. If we work together, we only get stronger as a city."

Read more at FOX 34.