Nowadays, you cannot talk about higher education without the conversation including economic development. Published economic impact studies indicate that campuses are major contributors to their economies. Look at these figures:
- Canada’s Universities – $30 billion
- Duke University – $3.2 billion
- Harvard University – $5 billion
- Michigan’s University Research Corridor – $14.5 billion
- UC San Diego – $7.2 billion
- University of Toronto – $5.4 billion
This week, the University of Dayton (UD) purchased NCR Corp.’s former world headquarters for $18 million. The location will house the university’s world-class research institute and provide space to work on projects that will stimulate commercialization, business growth, and local job creation. In a region that has endured substantial job loss, UD continues to be a vital economic engine and key contributor to the economic future of Dayton.
While these examples demonstrate major economic contributions by campuses, do they impact economic development policy for a region, state, or nation? Do such stories and economic studies influence policymakers to direct new investment in, to take David Miller’s term, campus entrepreneurship? If you have examples, please share.