University-Community Partnerships: Economic Development

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Tony Armstrong, President and CEO of Indiana University Research & Technology Corporation and Kirk White, Assistant Vice President for Strategic Partnerships at Indiana University gave a presentation …

Tony Armstrong, President and CEO of Indiana University Research & Technology Corporation and Kirk White, Assistant Vice President for Strategic Partnerships at Indiana University gave a presentation about university-community partnerships focusing on economic development for the 2012 Inter-City Visit to Bloomington, IN.

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  • This is the entire impact of Indiana University and IU Health. Operations alone account for $4.9 billion in impact and IU Health is $6.6 billion. The total combined impact of IU Health and the School of Medicine $7.6 billion. This is a snapshot of the IU and IUH’s economic impact in FY 10-11. These impacts are annual, fresh dollar impacts meaning that if the IU and its affiliates did not exist then the impact would not exist. What’s included in IU and IUH’s economic impact:1) Direct expenditures for goods and services by the entire University, IUH, its employees, student and visitors. 2) Induced or indirect spending with state of Indiana. The businesses and individuals that receive direct expenditures re-spend this money within the state.In analyzing the economic impact further, the operations of the University represent roughly 42.3% of the overall impact and IU Health represents approximately 57.7% of the impact. Indiana University Health includes Indiana’s most comprehensive academic health center and is one of the largest health systems in the United States. IU and IUH is 4.6% of the Total State Economy.So how does the Indiana University and IUH compare to its peers?
  • University Hospital and Riley Hospital for Children, 2 of the 3 hospitals that comprise IU Health’s Academic Health Center in Indianapolis along with Methodist Hospital, originated as IU hospitals.
  • IU Bloomington represents 20% of IU/IUH’s overall economic impact: $2.3B/$11.5B
  • IU Bloomington represents 20% of IU/IUH’s overall total jobs supported: 20,362/100,031

Transcript

  • 1. Inter-City Visit 2012 Bloomington Tony Armstrong President and CEO IU Research and Technology Corporation Kirk R. WhiteIU Assistant Vice President for Strategic Partnerships September 10, 2012
  • 2. IU Office of EngagementUpon taking office in 2007, IU President Michael McRobbie created theOffice of the Vice President for Engagement making statewideeconomic development a top strategic priority.Mission: Coordinate and connect the university’s vast intellectual and creative resources, assets, and expertise. Pursue strategic opportunities, in both the public and private sectors. Stimulate economic development and growth in Indiana. Enhance the quality of life for Hoosiers.Innovate Indiana 2
  • 3. Innovate Indiana is the name for Indiana University’s efforts to channel theuniversity’s vast resources to strengthen the Hoosier economy. The Office ofthe Vice President for Engagement (OVPE) is the central point of contact forInnovate Indiana.
  • 4. Indiana University Research and Technology Corporation (IURTC)• Not-for-profit organization that facilitates IU-affiliated research and technology collaborations.• Stimulates growth in Indiana’s technology and life sciences sectors by: • Helping entrepreneurial faculty develop commercially viable technology through: • Licensing innovations globally • Creating new start-up business • Enhancing funding opportunities – $10 million dollar Innovate Indiana Fund and spInUp program
  • 5. South Bend (IUSB) • Cancer Research Center Gary (IU Northwest) • Center for a SustainableStatewide • Northwest Indiana SBDC office Future • RED Fund awards (2) Fort Wayne (IPFW) • IPFW Office of Engagement • Regional Economic ImpactEngagement focus • RED Fund awards (2) • Technology Showcase events Kokomo (IUK) Indianapolis (IUPUI) • Regional Transformation • IU Innovation Center Initiative support • 16 Tech (City of • Regional Economic Indpls.) Impact forum • Pre-Seed Workshop • Kokomo SBDC Office Bloomington (IUB) • IU Innovation Center Richmond (IU East) • IU Technology Park • Online Degree Program • Bloomington SBDC support (VUJC office agreement) • Chamber & BEDC • Regional Economic • Pre-Seed Workshop Impact event - Indiana University’s • RED Fund awards (2) Crane collective efforts to • IU - NSWC Crane Columbus (IUPUC) channel the university’s Collaboration (MOU & PIA agreements) • IU Center for Arts + Design vast resources and • Technology Showcase expertise to strengthen Evansville event the Hoosier economy. • I-69 Corridor Development support New Albany (IU Southeast) • Center for Medical Education • Southeast Indiana SBDC office growth • Technology Showcase event • Technology Showcase events
  • 6. IU and IU Health’s Overall EconomicImpact is $11.5 Billion Per Year
  • 7. The reach and impactof IU and IU Healthextends across allregions of the state:• 9 IU Campuses• 9 IUSM Centers of Medical Education (partnerships with 5 other Indiana universities)• 18 IUH Hospitals
  • 8. IU Bloomington’s Overall EconomicImpact is $2.3 Billion Per Year• Represents 20% of IU/IUH’s overall economic impact.• In comparison, IUPUI’s economic impact is $2.0 billion per year.
  • 9. IU Bloomington’s Supports Over20,000 Quality Indiana Jobs• Represents over 20% of IU/IUH’s total jobs supported.• In comparison, IUPUI supports 18,763 direct and indirect jobs.
  • 10. Additional IU Bloomington Impacts• IU Bloomington’s operations in Indiana generate $114.1 million per year in state and local tax revenue.• IU Bloomington, faculty, staff and students generate more than $54.8 million annually in charitable donations and volunteer services. These benefits (in addition to the $2.3 billion annual impact) include the following: – $13.5 million donated to local charitable organizations by IU Bloomington faculty, staff and students. – Nearly $41.3 million in value of volunteer time provided to area communities by IU Bloomington students, faculty and staff.
  • 11. IU Bloomington Economic Development Partnerships• Downtown Certified Technology Park• Development of North and East parks• Co-sponsor of Small Business Development Center• Board memberships: Bloomington Chamber of Commerce, Bloomington Economic Development Corporation• Technology showcases• Business start-up weekends• Military base collaboration
  • 12. City-Campus Relations: An opportunity for regional collaboration• Universities have potential to be regional conveners bringing together diverse groups for mutual benefit• First, formal and informal networks must be built on open communication and trust.• Must be proactive and inclusive, regularly assessing potential opportunities and risks• Focused on working together to take advantage of the strengths of the campus and community as a team
  • 13. Higher Ed Characteristics• Higher Education • Media/Public – Deliberative – Immediate – Cautious – Impetuous – Cerebral – Emotional – See gray areas – Black & White – Take time to resolve – Print it today – Group oriented – One person in command
  • 14. Take time to build trust• The University is: – Big, powerful and used to having it’s own way – Often doesn’t speak with one voice or act consistently – Sometimes interested in international rankings instead of local recognition – Must prove it’s commitment over time, stay constant even through leadership changes
  • 15. Formal and informal communication• Formal • Informal – Town and Gown – Personal relationship Committee based – Established in 1997 by – City and campus IU president leaders establish open – Included leaders of communication with government and major counterparts organizations – Discuss issues as – Quarterly meetings to needed discuss mutual issues – Does not require – Discontinued in 2008 regular meetings
  • 16. Develop Networks• Decision makers • Decision influencers – Elected or appointed – Chamber of Officials Commerce – Company Presidents – Economic – K-12 Superintendents Development – Health care CEO’s Corporation – Social Service – Merchant Assns Executive Directors – Neighborhood Assns – Organization Board – Special interest groups Presidents
  • 17. Essential elements of proactive city- campus relations• University senior • Proactive and leader who is inclusive attitude that responsible for includes campus and cultivating the community decision relationships makers and• Must have access influencers and confidence of • Must be constantly campus CEO mindful of opportunities and risks
  • 18. Emergency Preparedness: an opportunity for mutual risk collaboration • Life, property, image, re• Risk putation and financial preparedness, response stability of both and recovery in the post- university and 9/11 environment community are coupled• City and campus • Range from football unavoidably connected game traffic• “Multi-hazard” incidents: management, active when, not if shooters, to tornadoes• Multiple • Conduct planning and jurisdictions, multiple exercises together agencies • Pre-plan communications
  • 19. Mutually beneficial opportunities• United Way campaign• Service learning programs• Economic development – State/federal challenge grants• Legislative initiatives – Infrastructure funding, projects• Public safety – Police cooperation – Fire protection
  • 20. Thank you Tony Armstrong President and CEO, IURTC atarmstr@iu.edu Kirk R. White Assistant VP for Strategic Partnerships krwhite@iu.edu