Table 1

Primary Roles of Higher Education

In State Economic Development

Role Economic Development Product/Outcome Key Drivers of Economic Outcomes

Intellectual

Talent

Development

· Highly qualified bachelor’s graduates in many fields with strong analytical and communication skills

· Highly qualified bachelor’s, master’s and Ph.D. graduates in scientific and technical fields important to state clusters (e.g., computer science and chemical engineering)

  • Quality, breadth and size of instructional and research faculty

  • Rigor of academic programs

  • Level of admission standards

  • Distinction and size of student applicant pool

  • Adequacy of facilities, specialized equipment and student support services

  • Match between programs/graduates and primary state business sectors

Intellectual

Talent

Retention and Attraction

· Retention of many top students for college and/or graduate school (and some post-graduation retention)

· In-migration (and some post-graduation retention) of gifted high school graduates and graduate students from other states and countries

Workforce

Development

· Ample supply of skilled labor for state’s incumbent industries, as well as for emerging business sectors

· Ample supply of prospective employees with basic job skills

· Match of program offerings with local business needs and job trends

· Availability of programs

· Quality of faculty and facilities

Scientific,

Technical and

Medical Research &

Development

 

· Intellectual capital that generates new companies (i.e., startups) and/or is licensed to larger firms for commercialization

· Federal and corporate research grants (i.e., new dollars into the state)

· Industry-sponsored R&D of high quality that improves productivity and increases university resources

· Quality, breadth and size of research faculty and associated graduate student bodies in scientific, technical and medical disciplines important to state business sectors

· Adequacy of facilities, specialized equipment and faculty support services

 

Technology

Transfer

· Increased productivity and/or commercial viability of recipient firms in state

· Licensing revenue to support university

· Quality of faculty

· "Absorptive capacity" of region

 

 

Teacher

Training

 

· Cadre of K-12 teachers well-prepared to educate tomorrow’s workforce

· Quality of faculty and students in colleges of education

· Rigor and design of education curricula

· Competitive teacher salaries, working conditions and support systems

Research on

Specific Issues of

State Importance

(e.g., Coastal

Wetlands Erosion)

 

· Enhanced understanding of various state problems, possible solutions and related costs

· Quality of faculty in related areas

· Availability of funds to support specific research projects

 

Business

Development

Assistance

· Improved entrepreneurial culture and capacity

· Business startups that directly create jobs and contribute to local economy

· Quality of faculty in business and related areas

· Incentives for faculty involvement

· Funding and facilities for business incubators

 

Brand Building

of State

· Perception of state as a progressive, sophisticated place in which to live and do business

· National reputation of institution(s) – high quality across the board and top 10 nationally in several academic disciplines (e.g., mechanical engineering)