Universities play key role in the new economy

Universities and higher education systems across the country are taking leading roles in their states’ economic development efforts — and a report released today by the Rockefeller Institute of Government says this trend seems likely to strengthen as the nation moves into the era of an “innovation economy.” The study found that higher education’s increasingly important role builds on, but goes well beyond, the research strengths of universities — incorporating efforts as wide-ranging as job training, business consulting, housing rehabilitation and even securing seed money for new businesses.

The report, A New Paradigm for Economic Development, was written by David Shaffer, a senior fellow at the Institute, and David Wright, the Institute’s director of urban and metropolitan studies. It was conducted at the request of State University of New York Chancellor Nancy L. Zimpher, who has made economic revitalization a centerpiece of the strategic planning process she is conducting for the 64-campus system.
To read the report, see the Institute's Web site.