the future of the university / edo interface: achieving shared goals - jeff finkle
DESCRIPTION
Universities and economic development organizations (EDO’s) are frequently working toward common goals—to foster and support regional innovation and economic prosperity. Challenges persist, however, at the university/EDO interface, and it is sometimes difficult to get beyond the challenges to achieve the common goals. The panel will present both the promise and potential pitfalls of EDO and university partnerships, and also paint a vision for the future of these collaborations so vital to economic development.TRANSCRIPT
The Future of EDO-University Interface: Achieving Shared Goals
Jeffrey A. Finkle, CEcDPresident & CEO, InternationalEconomic Development Council (IEDC)
UEDA Annual Summit 2014 Santa Fe, NM September 29, 2014
Presentation Outline
About IEDC
Overlapping EDO-University Objectives
Challenges to Collaboration
Best Practice Examples
Key Take-Aways
About IEDC
About IEDC
The International Economic Development Council (IEDC) is the world's largest membership organization
serving the economic development profession.
We are dedicated to helping economic developers do their jobs more effectively and raising the profile of the
profession.
When we succeed, our members create more high-quality jobs, develop more vibrant communities, and generally improve the quality of life in their regions.
IEDC Membership
From public to private, rural to urban, and local to international, our 4,400+ members include:
• Public state, regional, city and county ED professionals • Chambers of Commerce and other business support
agencies • Technology development agencies• Redevelopment authorities• Educational Institutions & Non-profits• Consultants• Utility companies
Member Services
• Conferences
• Professional Development & Certification
• Legislative Tracking
• Clearinghouse
• Career Services
• Newsletters and Journal
• Advisory Services & Research
IEDC’s Higher Education Committee
The IEDC Higher Education Advisory Committee develops and implements strategies to foster engagement between economic developers and the higher education sector
This includes universities, community colleges, and technical colleges
The Committee encourages economic developers and higher education to work collaboratively to grow jobs, investment and talent in a knowledge-based economy
Overlapping EDO-University Objectives
Overlapping EDO-University Objectives
Over the past 15 years, local economies have been increasinglychallenged due to global shifts, such as:
1
Globalization
Urbanization
Climate Change
Internet Boom
… and the negative effects of the Great Recession
local economic base
Overlapping EDO-University Objectives
These shifts prompted the review
of economic development strategic
priorities & the role of practitioner in the community
Similar to EDOS, many universities see themselves as community agents
Those universities tailor research & teaching portfolios to meet the economic needs of the regions they serve…
…but, like EDOs, U.S. universities have also been impacted by cuts to state
and local budgets
Overlapping EDO-University Goals
These common local level challenges call for substantial partnerships between institutions of higher education and EDOs
Overlapping EDO-University Goals
Common EDO-University Objectives include:
Nurturing Talent and Local Workforce Development
Supporting Entrepreneurship
Attracting Investment
Technology Transfer
Real Estate Development
Neighborhood Revitalization
Overlapping EDO-University Goals
Challenges to EDO-University Collaboration
Complex university organizational structures
can make it difficult for EDOs to know who to approach about forming partnerships
Most organizational structures vary greatly from one university to another
There is a gulf between the culture of academic institutions and economic developers
Challenges to EDO-University Collaboration
Challenges to EDO-University Collaboration
Cultural divide:
University leadership and professors may see private industry as self-interested and worry when research and teaching mandates are geared to serve the needs of commerce
Some economic developers and industry leaderssee academics as broadly theoretical and in needof greater understanding of the practical realities
of running a business and creating jobs
The incentive systems that drive tenure and promotion within universities are impediments to increased engagement with EDOs
Physical barriers: difficult to locate economic development offices on campuses
Challenges to EDO-University Collaboration
Best Practices Examples
The Voinovich School of Leadership & PublicAffairs at Ohio University
Fostering Entrepreneurship
The Center for Entrepreneurship is a transformative program of job creation and real-world education
Delivers entrepreneurial education, business assistance and capital resources in Appalachian Ohio
Runs the State tech start-up program “TechGROWTH Ohio”
* Staff & students in the MBA program provide technical assistance to start-ups & existing businesses in the region
EDO-University Interface: Best Practices Examples
EDO-University Interface: Best Practices Examples
Towson University’s Division of Economic & CommunityOutreach (DECO) in Maryland
Workforce Development
Provides a pipeline to employers of professionally certified employees who meet immediate hiring needs
Enables students to take professional certification courses while studying for BA and graduate degrees
The university created a 3D-Digital Object Lab that allows regional industries learn how to use advanced technologies to increase efficiency AND gives students exposure to advanced manufacturing techniques
EDO-University Interface: Best Practices Examples
University of Michigan - Economic Development
Aligning Perspectives and Resources 1
A leader in fostering cooperation among government, industry and academia
U-M works closely with Ann Arbor Spark to help the organization strengthen the business environment for innovative firms seeking to start-up, expand or move into the region
On the state level, U-M collaborates with the state EDO, Michigan Economic Development Corporation (MEDC)
U-M’s Institute for Labor, Employment and the Economy conducts market feasibility studies & identifies the capabilities/initiatives of emerging or established firms, to match them with technology available at Michigan universities
Key Take-Aways
One size doesn’t fit all Leveraging University-EDO collaboration depends on the individual conditions of each community
Successful programs grow out of sustained collaboration among economic developers, private sector leaders, and academic leaders
Key Take-Aways
Looking ahead, the engagement between universities and EDOs is essential for local economic growth to meet thechallenges of today and of tomorrow
UEDA is a point of entry for the facilitation of EDO-University interface
Value of ED Training
Questions?
Please visit our website at www.iedconline.org
Join IEDC on Facebook and LinkedIn