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) |
|
|
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) |