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Develop This: Economic and Community Development

Feb 22, 2023

Economic Development and Higher Education

Background - 

  • One of the more interesting changes in the last two decades has been the intersection of economic development and higher education.



  • A framework was created to assist institutions and their partners in identifying economic development contributions and understanding how to connect to a larger vision. 


  • Higher education institutions are adding “economic development” leadership positions


  • No longer primarily focused on areas of workforce development and innovation.


  • Colleges and universities often have large real estate holdings.


  • Even communities that do not have a local institution can partner with and benefit from regional entities. 

These two organizations came up with a definition of economic development for higher ed that highlights three key areas:

  • Talent – Cradle-to-Grave Human Capital and Talent Development


  • Innovation – Research, Creative Works, Problem-Solving, and Entrepreneurship


  • Place – Community-Connected Institutions and Stewardship for Vibrant Communities