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Our Higher CallingRebuilding the Partnership between America and Its Colleges and Universities$
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Holden Thorp and Buck Goldstein

Print publication date: 2018

Print ISBN-13: 9781469646862

Published to North Carolina Scholarship Online: May 2019

DOI: 10.5149/northcarolina/9781469646862.001.0001

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PRINTED FROM UNIVERSITY OF NORTH CAROLINA PRESS SCHOLARSHIP ONLINE (www.northcarolina.universitypressscholarship.com). (c) Copyright University of North Carolina Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in NCSO for personal use.date: 26 September 2021

Economic Development Is No Longer Optional

Economic Development Is No Longer Optional

(p.98) 8 Economic Development Is No Longer Optional
Our Higher Calling

Holden Thorp

Buck Goldstein

University of North Carolina Press

The prosperity of regional economies is inescapably linked to the health of their colleges and universities. Economic development has evolved from a by-product of higher education to a public expectation. Schools both big and small have emerged as crucial economic engines often taking the place of Fortune 500 corporations as a major generator of jobs and tax revenue. Economic impact can be maximized by developing a clear strategy, streamlining technology transfer, effectively managing conflicts of interest and developing mechanisms for bridging the chasm between the academy and the commercial world. It is critical that economic development be encouraged in service of the core mission of the university: research and teaching.

Keywords:   economic development, engines of innovation, economic engines, growth of regional economies, higher education as a public good

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