Economic Growth and State Colleges and Universities

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Presentation by Commissioner Sederburg to the Governor's Office of Economic Development

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Economic Growth and State Colleges and Universities

  1. 1. Economic Growth and State Colleges and Universities<br />
  2. 2. Agenda for Today’s Discussion<br />Two Parts:<br />Role Higher Education<br />Wm. Sederburg, USHE<br />Economic Development Strategies <br />Ann Millner, WSU <br />
  3. 3. Educational Attainment and Income<br />$50,000<br />1980<br />$43,000<br />$36,000<br />AK<br />Personal Income Per Capita<br />CT<br />$29,000<br />CA<br />NV<br />NJ<br />WY<br />HI<br />MD<br />NY<br />IL<br />CO<br />WA<br />DE<br />MA<br />MN<br />VA<br />OR<br />US<br />PA<br />MI<br />OH<br />WI<br />KS<br />FL<br />NH<br />RI<br />TX<br />IA<br />AZ<br />OK<br />IN<br />MO<br />$22,000<br />NE<br />MT<br />LA<br />VT<br />UT<br />ID<br />GA<br />ME<br />NM<br />NC<br />TN<br />WV<br />KY<br />SD<br />ND<br />Correlation = 0.64<br />SC<br />AL<br />AR<br />MS<br />$15,000<br />10<br />15<br />20<br />25<br />30<br />35<br />40<br />45<br />Percent of Adults Age 25-64 with Bachelor’s Degrees<br />Source: U.S. Census Bureau, Decennial Census’ and American Community Survey<br />
  4. 4. Educational Attainment and Income<br />$50,000<br />1990<br />$43,000<br />CT<br />$36,000<br />NJ<br />NY<br />MA<br />MD<br />AK<br />Personal Income Per Capita<br />HI<br />CA<br />DE<br />IL<br />$29,000<br />NH<br />VA<br />NV<br />MN<br />RI<br />WA<br />CO<br />PA<br />FL<br />US<br />OH<br />MI<br />KS<br />NE<br />OR<br />WI<br />WY<br />VT<br />MO<br />GA<br />IN<br />IA<br />ME<br />NC<br />TX<br />AZ<br />TN<br />OK<br />SD<br />$22,000<br />ND<br />SC<br />AL<br />ID<br />MT<br />KY<br />LA<br />UT<br />NM<br />WV<br />AR<br />Correlation = 0.76<br />MS<br />$15,000<br />10<br />15<br />20<br />25<br />30<br />35<br />40<br />45<br />Percent of Adults Age 25-64 with Bachelor’s Degrees<br />Source: U.S. Census Bureau, Decennial Census’ and American Community Survey<br />
  5. 5. Educational Attainment and Income<br />$50,000<br />2000<br />CT<br />$43,000<br />NJ<br />MA<br />NY<br />MD<br />$36,000<br />CO<br />NH<br />CA<br />MN<br />IL<br />WA<br />VA<br />DE<br />NV<br />Personal Income Per Capita<br />AK<br />US<br />PA<br />RI<br />MI<br />FL<br />WI<br />WY<br />HI<br />OH<br />OR<br />GA<br />TX<br />KS<br />VT<br />$29,000<br />NE<br />MO<br />IN<br />NC<br />IA<br />ME<br />TN<br />SD<br />AZ<br />ND<br />SC<br />OK<br />KY<br />UT<br />ID<br />AL<br />LA<br />MT<br />NM<br />AR<br />WV<br />$22,000<br />MS<br />Correlation = 0.80<br />$15,000<br />10<br />15<br />20<br />25<br />30<br />35<br />40<br />45<br />Percent of Adults Age 25-64 with Bachelor’s Degrees<br />Source: U.S. Census Bureau, Decennial Census’ and American Community Survey<br />
  6. 6. Educational Attainment and Income<br />$50,000<br />2005<br />CT<br />$43,000<br />NJ<br />MA<br />MD<br />NY<br />$36,000<br />NH<br />CO<br />MN<br />VA<br />WY<br />DE<br />CA<br />IL<br />NV<br />AK<br />WA<br />RI<br />PA<br />HI<br />US<br />Personal Income Per Capita<br />FL<br />WI<br />NE<br />KS<br />VT<br />SD<br />OR<br />MI<br />TX<br />OH<br />$29,000<br />IA<br />ND<br />MO<br />IN<br />NC<br />GA<br />ME<br />TN<br />AZ<br />OK<br />AL<br />MT<br />SC<br />ID<br />KY<br />NM<br />UT<br />AR<br />WV<br />$22,000<br />MS<br />LA<br />Correlation = 0.83<br />$15,000<br />10<br />15<br />20<br />25<br />30<br />35<br />40<br />45<br />Percent of Adults Age 25-64 with Bachelor’s Degrees<br />6<br />6<br />Source: U.S. Census Bureau, Decennial Census’ and American Community Survey<br />
  7. 7. Role of Higher Education<br />
  8. 8. Importance of Post-secondary Ed.<br />Job Training<br />Workforce Development<br />Business Leadership<br />Applied Research<br />Basic Research<br />
  9. 9. Roles Related to Institution Mission<br />Job Training – <br />Specific education for industry needs and for individual “job ”<br />Community Colleges & UCAT<br />Career & Technical Education<br />
  10. 10. Five Roles Related to Institution<br />Workforce Development<br />Educate workers of the future for “careers”<br />Liberal arts education + career pathways<br />All USHE institutions<br />
  11. 11. Roles Related to Institution Mission<br />Business Leadership & Entrepreneurial Education<br />Provide business leaders for tomorrow’s industry<br />Small business development<br />Business Degrees, MBAs,& industry management<br />
  12. 12. Roles Related to Institution Mission<br />Applied Research<br />Investigate market needs and relate need to existing technology<br />Use of existing patents & international resources<br />Graduate institutions<br />Land Grant University Tradition (USU)<br />2007 Patent Report:<br />901 Utah Patents<br />
  13. 13. Roles Related to Institution Mission<br />Basic research (USTAR)<br />Discover new processes , technology and relationships <br />High-risk/high payoff costs <br />Technology transfer systems<br />University of Utah is one of the top in the country with start up firms<br />
  14. 14. Institutional Development<br />Summary<br />Community Colleges – Job training & workforce development<br />Four year institutions – regional stewards, entrepreneurial ed. <br />Research – basic andapplied research – technology<br />Everyone – workforce development<br />
  15. 15. Quick Observations<br />Diverse Portfolio & Strategy<br />Environment for Success<br />
  16. 16. Ob. 1: Diverse Portfolio & Strategy<br />Need for a “diverse program portfolio” and strategy<br />Research – high yield, high risk<br />Regional service entities -to grow new businesses based on markets<br />Coordinated Plan – GOED, DWS, USOE, UCAT & USHE<br />
  17. 17. Ob. 2: Environment for Success<br />World Class Research and development (UU & USU)<br />Educated workforce at all levels<br />Entrepreneurial education on campus<br />Resources to assist entrepreneurs<br />Small business centers on campus<br />Strategies to retain & grow business <br />Small Business Development Centers & MEP<br />Business climate (taxes & services)<br />
  18. 18. Fundamental Truth<br />The path to personal economic growth is through higher education<br />The path to economic growth for the state is through higher education <br />
  19. 19. Questions<br />Economic Growth and State Colleges and Universities<br />

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