Business
Lincoln Educational Services to Open New Campus in Atlanta; Expands Nationally to 23 Campuses
•Second Georgia Location is First New Campus to be Developed Under Company’s Five-Year Strategic Growth Plan and Continues Lincoln’s Effort to Close the
About this update from Lincoln Educational Services Corporation
[{"type":"text","content":"•Second Georgia Location is First New Campus to be Developed Under Company’s Five-Year Strategic Growth Plan and Continues Lincoln’s Effort to Close the Country’s Skills Gap•New Campus Projected to Generate Revenue of Approximately $20 Million and EBITDA of $5 Million Within Four Years of Opening\nParsippany, NJ, July 13, 2022 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ: LINC), a national leader in specialized technical training for more than 75 years, today announced plans to open the Company’s second campus in the metropolitan Atlanta area. The new 55,000 square foot campus, with capacity for approximately 700 students, will be located near Interstate 85 to conveniently offer training programs in Auto Technology, Electrical & Electronic Systems Technology, Welding, and Heating, Ventilation & Air Conditioning (HVAC) to students from Atlanta as well as south of the city. It will complement Lincoln’s existing Marietta, GA campus to the north which provides career training in healthcare support fields along with skilled trades programs. The new campus is projected to open in the third quarter of 2023, subject to obtaining necessary regulatory approvals and timely build-out. Lincoln will deploy its new hybrid education delivery model providing greater flexibility for students and faculty. The planned curricula at the new campus are in industries that are anticipated to add a combined 84,000 jobs across Georgia by 2028*. The Company believes the new campus will play a major role in expanding career opportunities for graduates as well as building the state’s workforce for these vital, growing fields. This new campus is the first of five new campuses the Company plans to open nationwide within the next five years. The Company projects the new campus will generate approximately $20 million in revenue and $5 million in earnings before interest, taxes, depreciation and amortization (EBITDA) within four years of opening. The Company also believes, based on employer demand for skilled employees and job growth projections, that it may be able to open as many as 20 new campuses as part of its long-term strategic plan. “Our knowledge of the local market has been gained from years of being a valued member of the community through our first campus, combined with conversations with industry partners across the state and ...