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April 13, 2010

Leadership Louisville Class of 2010. Dr. James R. Ramsey President University of Louisville. April 13, 2010. Thank you Leadership Louisville for 31 years of making a difference. Congratulations on your graduation! . 2. Economists like pictures and graphs Some dots and a triangle…. 3.

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April 13, 2010

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  1. Leadership Louisville Class of 2010 Dr. James R. Ramsey President University of Louisville April 13, 2010

  2. Thank you Leadership Louisville for 31 years of making a difference. Congratulations on your graduation! 2

  3. Economists like pictures and graphsSome dots and a triangle… 3

  4. Let’s take a quick look at what we have faced – tough economy 4

  5. U.S. Job Loss It has been tough (Non Farm Employment)

  6. Kentucky has not been immune to the downturn – job loss (Nonfarm employment in thousands)

  7. Kentucky Economy:Manufacturing – Our bread and butter

  8. So?? Kentucky Employment Losses State Individual Income Tax/Sales Tax Cuts/Cuts/Cuts 9 for 9 With two more on the way…

  9. But despite economy/cuts/challenges… UofL has been given a job to do It is the law of Kentucky! 9

  10. “Post Secondary Education Improvement Act of 1997” It is the responsibility of Higher Education to: “Increase economic opportunity/quality of life for the people of our community/state” 10

  11. “Post Secondary Education Improvement Act of 1997” also says… “U of L is to be Premier Nationally Recognized Metropolitan Research University” 11

  12. Three Keys Premier Research Metropolitan

  13. Everyone understands why this is important “The University of Louisville and the city of Louisville drive our state.” John Calipari, UK Basketball Coach Courier Journal, January 22, 2010

  14. So we are moving forward • #1 – Better students – policy importance • Freshman class average ACT • 1998 – 21.4 • 2009 – 24.5 • State avg. – 20.8 (19.4) • National avg. – 21.1 • 24 National Merit Scholars • More students from outside Jefferson County than inside 14

  15. We are moving forward #2 - Our Graduates – policy importance • 1998 – 1,734 degrees awarded • 2009 – 2,428 degrees awarded • 2020 Goal – 3,074 • Doctoral Degrees • 1998 – 76 • 2009 – 142 • 2020 Goal – 350 • A Rhodes Scholar

  16. We are moving forward #3 – Research – policy importance Total extramural funding awards: 1998 - $42 M 2009 - $140 M 2020 Goal - $400 M 16

  17. Research that makes a difference Adult Heart Stem Cell Transplant Rebuilding hearts and lives James Graham Brown Cancer Center Breast Accreditation First in Kentucky Fueling with bio-diesel 17

  18. We are moving forward #4 – Community – policy importance 12th Best “Community” Neighbor University in the country • Earned a B+ from Sustainable Endowments Institute; tied for top honor with Berea College • Scholar House – 56 apartments housing single mothers working on their education • Dental School – dental clinics in Eastern Kentucky • Signature Partnership • Revitalizing neighborhoods • Park Hill • Province • Reynolds Lofts

  19. We are moving forward Economic Development #5 – Driving the economy • 9,764 jobs created (direct & indirect) • Roughly – 40% of net new jobs created in Kentucky during the time frame studied • And just recently – team effort – Signature HealthCARE The University of Louisville: An Engine of Growth from 2003-2009 Manoj Shanker January 2010

  20. Growing Economy • Expanding education programs • Growing research • Athletic success • New construction

  21. We are driving the economy… Construction projects Louisville Arena Center for Translational Research ShelbyHurst Outpatient Center 21

  22. UofL – the Driver Major Construction Projects Belknap Campus Belknap Entrance/Oval Belknap Research Building Cardinal Station Chemistry Vent Phase I Code Improvements-Fire Safety Community Park Dorm Ekstrom Basement Archives Ekstrom Library Expansion Ernst Hall Greek Housing Houchens-Graduate School Kentucky Trailer Kersey Library Renovation Kurz Hall Lacrosse Field Minardi Hall MITC Natatorium Old World Pasta Plant Patterson Baseball Stadium Second Street Property The Bellamy The Province Threlkeld Hall Honors Program Trager Center Fieldhouse Trager Field Hockey Expansion Yum Center

  23. UofL – the Driver Major Construction Projects Health Sciences Campus Cancer Center Renovation Cardiovascular Innovation Institute Chestnut Garage Expansion CII Renovation Clinical & Translational Research Bldg. Delia Baxter Research Dental School 1st Floor Haymarket HSC Fitness Facility HSC Parking Garage II Inhalation Lab Phoenix Place Apartments School of Public Health Tunnel Extension/Improvements Shelby Campus Center for Predictive Medicine Regional Computer Forensics Lab ShelbyHurst Development Work Other Cressman Center – Downtown Louisville Arena - Downtown Total $1.0 billion

  24. UofL – the Driver Great Investment • Taxpayer ROI (return on investment) • Every dollar UofL receives in state funds results in an additional $4.12 going into the economy • In 2003 the ROI was $2.71 • Source: Manoj Shanker

  25. How we do this with budget cuts… • Expense management/reengineering (cut $135 m costs) • Focus on “underperforming assets” • Increase fundraising • Growing clinical programs/income • Grow research/commercialization/industry contracting • Partnerships with private sector • Being creative (e.g. TIF)

  26. So to wrap up… Economic opportunity/Quality of life • Education – “creative class” – jobs follow people • Research – is economic development • Helping build new “clusters” • Healthcare/life sciences • Logistics/distribution • Energy • Investing in community

  27. Education Pays Per Capita Income in All 50 States v. Adults with Bachelors Degrees or Higher Data for 2007 2007 27

  28. Keeping the engines running… • 4 keys to Kentucky’s future • Education – Early Childhood • Education – K-12 • Education – Higher Ed • Education – Lifelong learning • The fuel for an economic recovery is educating • Kentucky’s citizens. 28

  29. Yet – Kentucky Chamber: The Leaky Bucket Corrections

  30. Other big leaks… • Medicaid • Public employee benefits • Retirement • Health insurance Diverting money from our future growth 30

  31. Thank you! Questions/Discussion 31

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