economic growth and state colleges and universities
DESCRIPTION
Presentation by Commissioner Sederburg to the Governor's Office of Economic DevelopmentTRANSCRIPT
Economic Growth and State Colleges and Universities
Agenda for Today’s Discussion
• Two Parts:
– Role Higher Education• Wm. Sederburg, USHE
– Economic Development Strategies • Ann Millner, WSU
Educational Attainment and Income
AK
AR
DE
GA
HIIL
IN IAKS
LAME
MDMA
MTNE
NV NJNY
NC ND
OHOK
ORPARI
SCSD
VT
VAWA
AL
CA
CO
CT
FL
IDKY
MI MN
MS
MONH
NMTN
TX
UTWV
WI
WY
$15,000
$22,000
$29,000
$36,000
$43,000
$50,000
10 15 20 25 30 35 40 45
AZ
Pers
on
al In
com
e P
er
Cap
ita
Percent of Adults Age 25-64 with Bachelor’s Degrees
1980
Correlation = 0.64
Source: U.S. Census Bureau, Decennial Census’ and American Community Survey
US
Educational Attainment and Income
$15,000
$22,000
$29,000
$36,000
$43,000
$50,000
10 15 20 25 30 35 40 45
Pers
on
al In
com
e P
er
Cap
ita
Percent of Adults Age 25-64 with Bachelor’s Degrees
1990
Correlation = 0.76
AK
AR
DE
GA
HI
IL
IN IAKS
LA
ME
MD MA
MT
NE
NV
NJNY
NCND
OH
OK
OR
PA RI
SC SD
VT
VAWA
US
AL
CA
CO
CT
FL
IDKY
MI
MN
MS
MO
NH
NM
TN TX
UTWV
WIWYAZ
Source: U.S. Census Bureau, Decennial Census’ and American Community Survey
Educational Attainment and Income
$15,000
$22,000
$29,000
$36,000
$43,000
$50,000
10 15 20 25 30 35 40 45
Pers
on
al In
com
e P
er
Cap
ita
Percent of Adults Age 25-64 with Bachelor’s Degrees
2000
Correlation = 0.80
PAAK
AR
DE
GA HI
IL
IN IAKS
LA
ME
MD
MA
MT
NE
NV
NJ
NY
NC
ND
OH
OK
ORRI
SCSD
VT
VAWA
US
AL
CACO
CT
FL
IDKY
MI
MN
MS
MO
NH
NM
TN
TX
UTWV
WI
AZ
WY
Source: U.S. Census Bureau, Decennial Census’ and American Community Survey
66
Educational Attainment and Income
$15,000
$22,000
$29,000
$36,000
$43,000
$50,000
10 15 20 25 30 35 40 45
Pers
on
al In
com
e P
er
Cap
ita
Percent of Adults Age 25-64 with Bachelor’s Degrees
2005
Correlation = 0.83
WITX
NM
NC
AK
AZ
AR
DE
GA
HIIL
IN IAKS
LA
ME
MDMA
MT
NE
NV
NJ
NY
NDOH
OK
OR
PA RI
SC
SD VT
VA
WAUS
AL
CACO
CT
FL
IDKY
MI
MN
MS
MO
NH
TN
UTWV
WY
Source: U.S. Census Bureau, Decennial Census’ and American Community Survey
Role of Higher Education
Importance of Post-secondary Ed.
• Job Training• Workforce Development• Business Leadership• Applied Research• Basic Research
Roles Related to Institution Mission
Job Training – • Specific education for industry needs and for individual “job ”• Community Colleges & UCAT
WSU 19.0%
UCAT 8.0%
SUU 5.0%
SNOW 4.4%DSC 3.5%
USU 2.4%UVSC 21.4%
CEU 2.9%
SLCC 33.4%
Career & Technical Education
Five Roles Related to Institution• Workforce Development
– Educate workers of the future for “careers”– Liberal arts education + career pathways– All USHE institutions
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$22,437
$30,356
$45,776
$65,301 Median Income by Education
Roles Related to Institution Mission
• Business Leadership & Entrepreneurial Education– Provide business leaders for
tomorrow’s industry– Small business development– Business Degrees, MBAs,
& industry management
Roles Related to Institution Mission
• Applied Research– Investigate market needs and
relate need to existing technology
– Use of existing patents & international resources
– Graduate institutions• Land Grant University Tradition
(USU) 2007 Patent Report:901 Utah Patents
Roles Related to Institution Mission
• Basic research (USTAR)– Discover new processes , technology and relationships – High-risk/high payoff costs – Technology transfer systems
University of Utah is one of the top in the country
with start up firms
Institutional Development
Summary• Community Colleges – Job
training & workforce development
• Four year institutions – regional stewards, entrepreneurial ed.
• Research – basic andapplied research – technology
• Everyone – workforce development
Quick Observations
1. Diverse Portfolio & Strategy
2. Environment for Success
Ob. 1: Diverse Portfolio & Strategy
• Need for a “diverse program portfolio” and strategy– Research – high yield, high
risk
– Regional service entities - to grow new businesses based on markets
– Coordinated Plan – GOED, DWS, USOE, UCAT & USHE
Ob. 2: Environment for Success– World Class Research and development (UU & USU)
– Educated workforce at all levels
– Entrepreneurial education on campus
– Resources to assist entrepreneurs• Small business centers on campus
– Strategies to retain & grow business • Small Business Development Centers & MEP
– Business climate (taxes & services)
Fundamental Truth
• The path to personal economic growth is through higher education
• The path to economic growth for the state is through higher education
Questions
Economic Growth and State Colleges and Universities