Leadership Louisville

Dr. James R. Ramsey President, University of

Louisville

January 18, 2011

Thank you

Our Goal“A Discussion”

A Place to Start

Economists like pictures and graphsSome dots and a triangle…

Quick overview of what’s been happening economically in the

last few years.

Sources: NBER, BEA, and BLS.* Lowest level during the current recession. The next two quarters (2009:III and IV) have been positive.

Peak Decline in real GDPDec-07 (IV) -3.70%Mar-01 (I) 0.40%Jul-90 (III) -1.40%Jul-81 (III) -2.90%Jan-80 (I) -2.20%Nov-73 (IV) -3.20%Dec-69 ((IV) -0.20%Apr-60 (II) -1.10%Aug-57 (III) -3.70%Jul-53 (II) -2.60%Nov-48 (IV) -1.70%

US GDP

Endured worse economic downturn since WWII

National Non Agricultural Employment(in 000s)

Dec-07Jan-08

Feb-08

Mar-08Apr-0

8

May-08Jun-08

Jul-08

Aug-08

Sep-08

Oct-08

Nov-08

Dec-08Jan-09

Feb-09

Mar-09Apr-0

9

May-09Jun-09

Jul-09

Aug-09

Sep-09

Oct-09

Nov-09

Dec-09Jan-10

Feb-10

Mar-10Apr-1

0

May-10Jun-10

Jul-10

Aug-10

Sep-10

Oct-10

Nov-10

Dec-10

-800

-600

-400

-200

0

200

400

600

-131 -54 -95

151

71103

Economy coming back, but job growth will be slow

Jan-99

Jul-99

Jan-00

Jul-00

Jan-01

Jul-01

Jan-02

Jul-02

Jan-03

Jul-03

Jan-04

Jul-04

Jan-05

Jul-05

Jan-06

Jul-06

Jan-07

Jul-07

Jan-08

Jul-08

Jan-09

Jul-09

Jan-10

Jul-10

1750.0

1770.0

1790.0

1810.0

1830.0

1850.0

1870.0

1890.0

Jan '991769.4

Oct '001833.6

Jul '031777.6

Dec '071872.4

Nov '101774.4

Kentucky Non Agricultural Employment(in 000s)

See any public policy issues here?

Kentucky Manufacturing Employment(in 000s)

Structural not Cyclical Jan

-99Jul-9

9Jan

-00Jul-0

0Jan

-01Jul-0

1Jan

-02Jul-0

2Jan

-03Jul-0

3Jan

-04Jul-0

4Jan

-05Jul-0

5Jan

-06Jul-0

6Jan

-07Jul-0

7Jan

-08Jul-0

8Jan

-09Jul-0

9Jan

-10Jul-1

0200.0

220.0

240.0

260.0

280.0

300.0

320.0

308.3

Nov '10214.5

Issues – New Economic Clusters“Jobs of Tomorrow”

Knowledge Based Economy

4 Keys to Economic Growth

Education PaysPer Capita Income in All 50 States v. Adults with Bachelors Degrees or Higher

Data for 2007

$25,000

$30,000

$35,000

$40,000

$45,000

$50,000

$55,000

15% 20% 25% 30% 35% 40%

2007

What’s all this have to do with Higher Education?

We are expected to help improve economic opportunity

and quality of life for Kentuckians (HB1-1997)

The Law has not changed.

UofL “Premier Nationally Recognized

Metropolitan Research University”Educated

Workforce• Baccalaureates• Professional• Graduate

Research• Funded $$• Translational

Community• Quality of life• Solving problems

UofL’s RAM program changes thousands of Kentuckians lives.

$3.15 million grant will support cancer research in Owensboro. December 2010 Commencement

We understand economic budget reality…

But everyone has priorities Kentucky has “leaks in the

budget”(Kentucky Chamber of Commerce)

Students or Inmates?One Leak in the Bucket

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