The Minister for Foreign Affairs says everybody wants WIT to become a South-East technological University.
It's as Simon Coveney has confirmed that a report is on the desk of the Minister for Higher Education and will be put through shortly.
However, there are still questions surrounding where the university will be based, and how the influx of students will be accommodated.
Speaking to Beat News during a visit to the city, Minister Coveney says there are plenty of reasons why these will be resolved.
"I think it'll enhance the reputation of Waterford as a place to invest and it will enhance the reputation as a place of research and of course it'll increase the student numbers as well over time. So I think that is going to happen, and not before time.
He says the will is there as this milestone is desired throughout the region;
"Everybody in Waterford wants WIT to become a technological university. The report is now with Minister Simon Harris who I think is going to make decisions on that quite soon."