Texas Tech University System Chancellor Kent Hance on Wednesday gave the annual "State of the System" address at Texas Tech McKenzie-Merket Alumni Center.

In his speech Chancellor Hance talked about Texas Tech's role in Lubbock, “Texas Tech University and Texas Tech University Health Sciences Center are vital to Lubbock and the South Plains,” Hance said. “Additionally, during my time as chancellor over the past six years, the Texas Tech University System has accomplished many great things that would not have been possible without the continued support of this area and its communities.”

Texas Tech officials peg the TTU System's economic impact at $9.98 billion for the state of Texas in 2012. Of this number’s total economic output, approximately $3 billion in total economic output was in the South Plains region, in 2012.

Texas Tech has also been steadily increasing enrollment at its campuses. Student enrollment at Texas Tech University and Texas Tech University Health Sciences Center (Lubbock) has increased by approximately 21 percent, or 6,383 students, since 2006. Chancellor Hance has set enrollment goals of 40,000 students for Texas Tech University and nearly 7,000 students at Texas Tech University Health Sciences Center by 2020.

Chancellor Hance also brought of the possibility of asking the City of Lubbock to partner, financially, with Texas Tech on future expansion projects on campus; specifically, athletic venues. Hance pointed out the cities of Bryan & College Station gave Texas A&M a combined $38 million to help facilitate stadium upgrades. Also, Waco gave fellow Big 12 Conference member Baylor $35 million for the stadium upgrades.