Here's an article from The Chronicle of Higher Education focusing on the role of colleges and universities in economic development, especially in rustbelt cities.  The article focuses mostly on Rochester NY, but also talks about the University of Akron's role with polymer research and spinoff businesses.

 

The University As Economic Savior

As higher education replaces industry in some cities, colleges face both support and unrealistic expectations

 

By KARIN FISCHER

Rochester, N.Y.

 

On a wintry March day in 1932, George Eastman, inventor of rolled film and founder of the Eastman Kodak Company, summoned a trio of witnesses to his home here to view the signing of his revised will. Minutes after the group left, Mr. Eastman, who was ill with a degenerative spinal disorder, shot himself in the heart.

 

The deathbed revisions made the University of Rochester the beneficiary of his $25-million estate, part of the $50-million he bequeathed to the private institution over his lifetime...

 

. More than 300 professors have taken part in the program, which allows them to teach a reduced courseload.

 

http://chronicle.com  |  Section: Government & Politics  |  Volume 52, Issue 45, Page A18

This is were Cincy need to go along with the rest of the state. Its great to have Universities in the community, but its even greater when they can spin technology off into the private local sector.

A UC press release from 8/4/06:

 

 

Ohio's top research universities have $6.2 billion impact

Ohio's three top research universities have a $6.2 billion annual impact, and play a major economic role statewide, according to a new study.

Date: 8/4/2006

By: Greg Hand

Phone: (513) 556-1822

 

Case Western Reserve University, The Ohio State University, and the University of Cincinnati today released "The Future Starts Here: The Role of the Research Universities in Ohio's Economy," a study of the impact of the state's three largest research universities.

 

The study, a joint effort of the universities with Appleseed Inc., a New York-based consulting firm, revealed that the universities not only are among the state's largest employers, but also contribute significantly to the economic health of their region and Ohio and produce much of the highly skilled workforce necessary for the state's future prosperity. In addition, their outreach activities affect the quality of life in their communities, particularly relating to P-12 education and urban revitalization.

 

"This is the most comprehensive study to date of what effect Ohio's big urban research universities have on its economy," said Hugh O'Neill, president of Appleseed Inc. "They contribute in measurable ways to Ohio's economic vitality and will be essential players in successful economic development."

 

Among the study's findings, based on 2004 data:

 

* Collectively, Case Western Reserve, Ohio State and the University of Cincinnati have 35,257 full- and part-time employees, plus another 21,800 part-time student employees.

* They support another 10,400 Ohio jobs through in-state purchases of goods and services.

* Their revenues total $3.8 billion, of which only 19 percent is from state appropriations.

* Directly and indirectly, they account for more than 68,000 jobs and $6.2 billion of economic activity statewide.

* They enroll more than 86,734 undergraduate and graduate students, nearly 23 percent of all four-year university students in the state, 80 percent of whom are Ohio residents.

* They account for 80 percent of the university research in the state.

* The over $1 billion in sponsored research pursued at the universities is funded 63 percent by federal grants and contracts, 12 percent from corporations and foundations and 11 percent by state and local government.

* The universities' affiliated medical centers are responsible for 60 percent of all research spending ($608 million).

 

"It's great to have these three big research universities working together to assess their contributions to their communities and Ohio. Each is a powerhouse institution representing the jobs and skills Ohio needs for economic health today and in the future," said Case Western Reserve University Interim President Gregory L. Eastwood..

 

In addition to conducting pure research, the three universities also collaborate with institutional and industry partners to develop new technologies and treatments that result in the development of businesses and jobs, while improving the quality of life.

 

"Our mission of research and service is manifested in these efforts to incubate high-tech businesses and bring new technologies to the marketplace to benefit mankind. Developing these partnerships and encouraging the launch of small high-tech businesses open wonderful possibilities for economic advancement, and will help keep Ohio students in Ohio," said Ohio State President Karen A. Holbrook.

 

Not least, these three urban campuses are extensively involved in the economic life of their communities through neighborhood redevelopment efforts and other outreach activities, such as Ohio State's Campus Partners for Community Urban Redevelopment, University of Cincinnati's involvement with the Uptown Consortium, a collaboration involving five major employers in the communities surrounding campus, and Case Western Reserve's partnership in the University Circle, Inc. consortium, one of the country's oldest community improvement groups.

 

"The University of Cincinnati's collaboration with area employers and neighborhoods to revitalize Uptown Cincinnati and connect with the development of downtown—just like the similar efforts going on at Ohio State and Case Western Reserve—is critical to the economic viability of our regional community," said University of Cincinnati President Nancy Zimpher.

 

The study demonstrates clearly how, with the necessary support, these universities will help drive Ohio's economy in the 21st century, through their role in producing a well-educated workforce and advancing science and technology, their community impact and their collaborative efforts.

 

Appleseed is a New York-based firm that provides economic and social research and analysis, economic development planning and project development, strategic planning and program development services to government, non-profit and corporate clients. Hugh O'Neill, President, founded Appleseed in 1993. From 1975 through 1978 he was Deputy Commissioner at the New York State Department of Social Services. He later served as Deputy Secretary for Economic Development under governors Hugh Carey and Mario Cuomo, and as Assistant Executive Director of the Port Authority of New York and New Jersey. Mr. O'Neill holds a Ph.D. in Political Science from Columbia University.

 

To view the complete report, click here (PDF)

 

http://www.uc.edu/news/NR.asp?id=4223