Governmental entities almost inevitably seek to expand. They’re a source of wealth and power, after all. The people who run them are no less interested in wealth and power than anyone else, and when you have access to the public treasury, you can dream big.
The people in charge of North Carolina State don’t just dream big, they buy up more and more land in Raleigh. In today’s Martin Center article, Ashlynn Warta looks at the university’s growth.
“Why is NCSU so interested in real estate?” she writes. “One large reason is that many such properties can function as a source of profit. NCSU can lease office and business spaces on its Centennial Campus; indeed, its real-estate website boasts over ‘5 million square feet of commercial space’ and currently houses over 70 businesses. Another major draw of accumulating real estate is that universities don’t have to pay property taxes; no tax payments means more profit for institutions to hold onto.”