The Tech Talent Investment Program
The Tech Talent Investment Program (TTIP), launched in 2019, is a historic $1.1 billion investment in Virginia’s tech talent pipeline. As of the 2022–2023 academic/fiscal year, institutions were far exceeding their commitment to strengthen the tech talent pipeline in Virginia. Although not every institution is currently meeting its respective targets, the14 TTIP BS programs have collectively produced two-and-a-half times as many graduates as promised. Those institutions produced 1,689 additional graduates, compared to a commitment of 682. Through the expansion of MS programs in Northern Virginia, Virginia Tech and George Mason University graduated 423 and 229 additional students, respectively.
Report Introduction
The Tech Talent Investment Program (TTIP), launched in 2019, is a historic $1.1 billion investment in Virginia’s tech talent pipeline. Participating institutions have set goals to increase the number of Bachelor of Science (BS) and Master of Science (MS) graduates in computer science and related fields by at least 30,000 over 20 years. Degree goals are equally divided between BS (16,000) and MS (16,000) programs. Fourteen institutions and the Virginia Community College System participate.
TTIP is overseen by the Virginia Secretary of Finance, in consultation with other designated reviewers: the Secretary of Education, the director of the Department of Planning and Budget, the director of the State Council of Higher Education for Virginia (SCHEV), the president of the Virginia Economic Development Partnership (VEDP), and the staff directors of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations. SCHEV and the Virginia Office of Education Economics (VOEE) provide administrative support.
TTIP provides institutions with three different forms of support: operating expense funding, equipment support, and capital support. Institutions began receiving operating expense support in FY 2020. The amount is constant within institution for FY 2021–FY 2039. Institutions use their operating expense awards to fund faculty lines, provide scholarships to students, and cover other costs associated with normal operations. Institutions first received equipment support in FY 2021. Although 64 percent of equipment support was disbursed by FY 2024, some institutions will continue receiving support through FY 2029. Most capital support (92%) was also disbursed in the first two years of the program, with the majority going to Virginia Tech and George Mason University. These funds established TTIP’s support of Virginia Tech’s new Graduate Innovation Campus in Alexandria as well as George Mason University’s Institute for Digital Innovation.
TTIP is structured as a performance-based funding model. Each participating institution signed a memorandum of understanding (MOU) and committed to producing a number of new degrees in the fields of computer science, computer engineering, and/or computer software engineering each year. Institutional awards are calculated annually based on the goals outlined in these MOUs using data from SCHEV. Institutions received their first round of awards in December 2019 (FY 2020) and are eligible to continue receiving annual awards through FY 2039. Fiscal years 2020 through 2023 were a grace period during which institutions received their full awards, regardless of performance. In FY 2024, institutions that failed to produce the target number of new degrees received commensurate reductions to their support, as outlined in their MOUs. The MOUs also allow for reductions based on other performance measures, including whether new degrees are from institutional growth or the reallocation of students from non-TTIP programs. Whether to apply reductions for underperformance on these additional measures is at the discretion of the Secretary of Finance and other designated reviewers. Reductions for FY 2024 were focused only on degree production. The designated reviewers will revisit the calculation of operating expense awards and reductions for FY 2025 and beyond. Equipment and capital awards are not subject to performance-based reductions.
As of the 2022–2023 academic/fiscal year, institutions were far exceeding their commitment to strengthen the tech talent pipeline in Virginia. Although not every institution is currently meeting its respective targets, the 14 TTIP BS programs have collectively produced two-and-a-half times as many graduates as promised. Those institutions produced 1,689 additional graduates, compared to a commitment of 682. Through the expansion of MS programs in Northern Virginia, Virginia Tech and George Mason University graduated 423 and 229 additional students, respectively.
Section § 23.1-1243 of the Virginia Code directs the Secretary of Finance, in consultation with the other designated reviewers, to submit an annual report to the chairs of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations. The report should provide an update on the progress of each institution toward meeting their MOU targets and the total amount of grants awarded to each institution. The following tables include those analyses. Tables A and B report the degree progress of each TTIP institution through FY 2023. Tables C through F include information about award disbursements through FY 2024.
2023 Report