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Building Stronger Connections Between Higher Education and the Economy

Building Stronger Connections Between Higher Education and the Economy Aligning State, Regional, and Institutional Agendas Presentation at the 2008 SHEEO annual meeting by: Sue Hodges Moore Vice President for Planning, Policy, and Budget. Aligning State, Regional, and Institutional Agendas.

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Building Stronger Connections Between Higher Education and the Economy

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  1. Building Stronger Connections Between Higher Education and the Economy Aligning State, Regional, and Institutional AgendasPresentation at the 2008 SHEEO annual meeting by: Sue Hodges Moore Vice President for Planning, Policy, and Budget

  2. Aligning State, Regional, and Institutional Agendas • Goals • Resources • Organization • Policy Leadership • Accountability

  3. NKU Business Plan:Statewide Context Statewide Public Agenda for Postsecondary and Adult Education • Increase the standard of living and quality of life in Kentucky to the level of the national average by 2020. • The Five Questions: • Are more Kentuckians ready for postsecondary education? • Is Kentucky postsecondary education affordable to its citizens? • Do more Kentuckians have certificates and degrees? • Are college graduates prepared for life and work in Kentucky? • Are Kentucky’s people, communities and economy benefiting?

  4. Vision 2015Regional Plan for NKY Primary Goals • Competitive Economy • 50,000 new high paying jobs • Educational Excellence • Meet or exceed national standards at all levels

  5. The Talent Continuum

  6. NKU Business Plan Goals • Talent Development • Regional Stewardship • Institutional Effectiveness

  7. Goal 1: Talent Development • Degree production levels that meet the region’s workforce needs • Focus on high demand fields • Programs and curricula to meet needs of global economy

  8. NKU Business Plan Development:Talent Force Analysis • Assess regional talent force needs for bachelor’s degrees and higher • Calculate return on investment of the benefits of future growth and economic development for the region and the state

  9. Talent Force AnalysisDemand for Degrees Bachelor’s Degree Production to Sustain 50,000 New Jobs In 2015: 20,278new jobs preferring bachelor’s degrees or higher 1,796degree-holders currently produced in NKY annually 2,209estimated additional bachelor’s degrees preferred annually 4,005estimated degree-holders to annually sustain jobs

  10. Talent Force AnalysisReconciling the Numbers Bachelor’s Degree Demand

  11. The Return on Investment With the development of talent and the creation of 50,000 new jobs, the economic increase is significant. In 2015 the annual increase will be: • $2.8 billion in incremental wages • $1.6 billion in local (NKY) spending • $270 millionin new Kentucky tax revenue

  12. Goal 2: Regional Stewardship • Outreach and public engagement activities that address regional needs • Planning/needs assessment • Applied research • Consulting and technical assistance • Identification of best practices • Demonstration projects • Outcomes assessment • Public policy analysis • Community programs • Service learning • Non-credit classes • On-campus resources

  13. Goal 3: Institutional Effectiveness • ad • Cost Containment and Efficiencies • Integrated Planning, Budgeting and Performance System • Institutional Performance and Regional Tracking Indicators

  14. Phase IIInstitutional Effectiveness

  15. State Policy Levers • Embedding regional stewardship into state funding policies and accountability systems • Infrastructure and incentive funds that support and encourage regional engagement • Funding models that recognize regional differences and returns on investment • Policy leadership that encourages regions to develop plans and monitor progress • Performance indicators and reports that address regional stewardship activities • Regional metrics (e.g., county data) that monitor progress

  16. Resources • Five Questions One Mission Better Lives for Kentucky’s People: A Public Agenda for Postsecondary and Adult Education, 2005-2010 http://www.cpe.ky.gov/NR/rdonlyres/BEC64FFE-7730-4CC9-90B5-17B58EAD7FD3/0/FINAL_Public_Agenda_20051004.pdf • Double the Numbers: Kentucky’s Plan to Increase College Graduates http://www.cpe.ky.gov/NR/rdonlyres/76889317-86C5-4AFF-9046-AD95E4137602/0/DoubletheNumbersPlanFINALNov15.pdf • Council on Postsecondary Education 2006-2008 Regional Stewardship Program Guidelines http://www.cpe.ky.gov/NR/rdonlyres/655963C8-94D7-4F80-BEFF-30E60BD939AA/0/10_TFGuidelines_RegionalStewardshipProgram_Attachment_AS_ADOPTED_7_10_06.pdf • Vision 2015 - A 10-Year Strategic Plan for Northern Kentucky http://www.vision2015.org/ • NKU Strategic Agenda (The Talent Imperative!) http://president.nku.edu/resources/THE%20TALENT%20IMPERATIVE1.pdf • NKU Business Plan (It’s All About Talent!) http://president.nku.edu/resources/NKU_BusinessPlan_121107.pdf

  17. The Return on Investment Our joint commitment will contribute to… • 50,000 new jobs • $2.8 billion annually in incremental wages • $270 million annually in new Kentucky tax revenue • Life-enhancing value

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