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.

1. The Future of EDO-University
Interface: Achieving Shared
Goals
Jeffrey A. Finkle, CEcD
President & CEO, International
Economic Development Council
(IEDC)
UEDA Annual Summit 2014
Santa Fe, NM
September 29, 2014

2. Presentation Outline
 About IEDC
 Overlapping EDO-University Objectives
 Challenges to Collaboration
 Best Practice Examples
 Key Take-Aways

3. About IEDC

4. 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.

5. 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

6. Member Services
• Conferences
• Professional Development & Certification
• Legislative Tracking
• Clearinghouse
• Career Services
• Newsletters and Journal
• Advisory Services & Research

7. 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

8. Overlapping EDO-University
Objectives

9. Overlapping EDO-University Objectives
Over the past 15 years, local economies have been increasingly
challenged due to global shifts, such as:
1
Globalization
Urbanization
Climate Change
Internet Boom
… and the negative effects of the Great Recession
local economic base

10. Overlapping EDO-University Objectives
These shifts prompted the review
of economic development strategic
priorities & the role of practitioner
in the community

11. Overlapping EDO-University Goals
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

12. Overlapping EDO-University Goals
These common local level challenges call for
substantial partnerships between institutions
of higher education and EDOs

13. 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

14. Challenges to
EDO-University
Collaboration

15. 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

16. 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 leaders
see academics as broadly theoretical and in need
of greater understanding of the practical realities
of running a business and creating jobs

17. Challenges to EDO-University Collaboration
 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

18. Best Practices
Examples

19. EDO-University Interface: Best Practices Examples
The Voinovich School of Leadership & Public
Affairs 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

20. EDO-University Interface: Best Practices Examples
Towson University’s Division of Economic & Community
Outreach (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

21. 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

22. 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

23. Key Take-Aways
Looking ahead, the engagement between universities and
EDOs is essential for local economic growth to meet the
challenges of today and of tomorrow
UEDA is a point of entry for the facilitation of
EDO-University interface

24. Value of ED Training
Questions?
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