Local, state, and national economies are facing unprecedented levels of international competition. The current fiscal crisis has hampered the ability of many governments in the developed world to directly facilitate economic growth. At the same time, many governments in the developing world are investing significant new resources into local infrastructure and industry development initiatives. At the heart of the current economic transformation lie our colleges and universities. Through their roles in education, innovation, knowledge transfer, and community engagement, these institutions are working toward spurring economic growth and prosperity.This book brings together leading scholars from a variety of disciplines to assess how universities and colleges exert impact on economic growth. The contributors consider various methodologies, metrics, and data sources that may be used to gauge the performance of diverse higher education institutions in improving economic outcomes in the United States and around the world. Also presented are new typologies of economic development activities and related state policies that are designed to improve understanding of such initiatives and generate new energy and focus for an international community of scholars and practitioners working to formulate new models for how public universities and colleges may lead economic development in their states and communities while still performing their traditional educational functions.Universities and Colleges as Economic Drivers is meant to cultivate greater understanding among elected officials, business representatives, policymakers, and other concerned parties about the central roles universities and colleges play in national, state, and local economies.

Illustrations Foreword by Nancy L. Zimpher Acknowledgments 1. Higher Education and Economic Competitiveness Jason E. Lane 2. The Diversity of University Economic Development Activities and Issues of Impact Measurement Thomas Gais and David Wright 3. Pitfalls of Traditional Measures of Higher Education's role in Economic Development Peter McHenry, Allen R. Sanderson, and John J. Siegfried 4. On the Measurement of University Research Contributions to Economic Growth and Innovation Maryann P. Feldman, Allan M. Freyer, and Lauren Lanahan 5. University Industry Government Collaboration for Economic Growth Laura I. Schultz 6. The Convergence of Postsecondary Education and the Labor Market Anthony P. Carnevale and Stephen J. Rose 7. The Essential Role of Community Colleges in Rebuilding the Nation's Communities and Economies James Jacobs 8. The International Dimensions of Higher Education's Contributions to Economic Development Jason E. Lane and Taya L. Owens 9. Unanticipated Consequences of University Intellectual Property Policies Jason Owen-Smith 10. The Impact of the 2008 Great Recession on College and University Contributions to State and Regional Economic Growth D. Bruce Johnstone Contributors