Two dozen tech leaders are urging the state’s business commission to back a $37.5 million bailout for Birmingham-Southern College.

In a letter addressed to Innovate Alabama, a commission established in 2020 by Gov. Kay Ivey, 24 founders of tech companies in Birmingham, Huntsville and Mobile called on the group to support Birmingham-Southern’s request for a one-time infusion of public money.

“Over the past several decades, Alabama’s workforce development efforts have placed emphasis on manufacturing to meet the needs of industrial recruitment successes,” they wrote. “Even so, Alabama needs more candidates with bachelor’s degrees and, more significantly, the specific skills of critical thinking, problem-solving, the ability to adapt, learn, and lead, upon which all of our businesses depend.”

Read more: Birmingham-Southern students weigh options while college maintains push for state bailout

The authors said they have “increasingly had to look outside the state” for key hires, and have lost out on recruiting talent as a result. In their letter, they urged the state leaders to consider the value of liberal arts colleges – and to keep Birmingham-Southern from closing its doors.

“As you and other state leaders seek to develop more pipelines of qualified candidates in the innovation sector, we are greatly concerned that the state is at risk of losing one of its leading academic institutions, Birmingham-Southern College,” they wrote.

The letter, sent on March 17, comes as legislators mull a bailout plan that would allocate $30 million from the state’s pandemic recovery and education funds toward the private college.

Financial problems at Birmingham-Southern emerged in 2010 when David Pollick, who had been president since 2004, resigned after a controversy over accounting errors, overspending and increasingly dire budget deficits.

In their most recent news release, Birmingham-Southern leaders said they have raised about $46 million toward their endowment goal of $200 million by 2026, but they need public funding to keep the school running in the meantime.

In December, officials asked for $37.5 million from state and local funds – including $5 million from the City of Birmingham – which they say will be enough to keep operations going while they replenish their endowment. The Birmingham City Council on Tuesday is expected to consider a resolution to provide their share.

But as the legislative session kicks back into gear, time is running out. If the college doesn’t get the funds, it will close next year, officials said.

In February, lawmakers called the outlook “doubtful,” despite an outpouring of support from alumni and other stakeholders. More recently a pair of local city councilors and some of the state’s top business leaders have shared their support.

Earlier this month, nearly a dozen Birmingham executives lobbied Jefferson County lawmakers to save the school. They noted Birmingham-Southern’s prior financial problems, but claimed current leadership had a “sound plan” to keep the school afloat.

They also cited an impact study done by Alabama economist Keivan Deravi, which showed that BSC created an economic impact of 92.7 million to the state.

This most recent push from tech leaders comes as Alabama struggles to retain top talent in technology jobs. Birmingham and Huntsville had more than 1,100 job openings in 2021 in data science, according to the news release.

Birmingham-Southern leaders say if they can keep the school open, they can help fill that gap.

President Daniel Coleman plans to expand the college’s tech-related offerings in 2023, including a master’s degree in data science and a data science program open to both BSC and non-BSC students.

“The leaders who signed this letter of support are creating much of the economic growth of the state,” he said in a news release. “What they are building through their businesses will change Alabama – not only by providing career and financial opportunities for so many people, but also by creating the next generation of entrepreneurs.”

The Governor’s Office and Innovate Alabama did not immediately respond to AL.com’s requests for comment.

Read the full form letter below, or view it here.