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UT’s Role in Economic Development

UT’s Role in Economic Development. University Faculty Senate November 9, 2007 Frank J. Calzonetti Tom Gutteridge Mary Jo Waldock. Key Economic Statistics Lucas County/Ohio.

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UT’s Role in Economic Development

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  1. UT’s Role in Economic Development University Faculty SenateNovember 9, 2007Frank J. CalzonettiTom GutteridgeMary Jo Waldock

  2. Key Economic Statistics Lucas County/Ohio • Lucas County population has been declining since 1980 (from 471,000 to 443,000) and is projected to decline 35,000 by 2020 • In 2006, Lucas County’s higher education attainment statistics - 7.3% Associates, 13.8% Bachelor’s, and 7.4% Master’s degrees (Ohio is 41st in the nation for % of pop. with a bachelor's degree) • In 2006, Ohio per capita personal income of $28,944 was 7% less than the United States average of $34,632 (Ohio’s national rank 31st) • From 1995-2003 Ohio lost approximately 214,000 manufacturing jobs. Also, the number of farms in Ohio has been decreasing over the past several decades. The number of farms in 1960 was 149,000, compared to 78,000 farms in 2002. Source: Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce, and the Ohio Department of Development

  3. UT’s Role in Economic Development What is UT’s role(s) in economic development? What is UT’s goal(s) in economic development? What are UT’s action(s) towards these goals? Are we doing what’s appropriate for our area? How is the UT Science and Technology Corridor related to these activities?

  4. UT’s Role Economic Development - Then Manufacturing Recruit industry and offer incentives Available Industrial Sites Jobs

  5. UT’s Role Economic Development - Now Technology & Intellectual Capital Build knowledge assets and energize innovation Quality of Place Knowledge Work Force

  6. Broad Role a University Plays in Transforming a Local Economy • Technology • Talent • Tolerance ( Richard Florida, Gary Gates, Brian Knudsen, and Kevin Stolarick, 2006)

  7. UT’s GoalStrategies in “Directions: 2007” Research, Innovation, and Entrepreneurship Implement an exemplary technology transfer pathway… Develop, lead, and actively participate in a science and technology corridor… Enhance our role in business attraction, entrepreneurship, and the development of technology-based enterprises…

  8. UT’s GoalKnowledge-Based Ecosystem Business Capital Business Incentives Incubator Entrepreneurial Environment The Site/Place Work Force Strategies Research & Tech Transfer Quality Education Internet Connectivity End-to-End ModelAll Parts Working Together—Not Just a Place

  9. UT’s Goal - Consistent with Both State and National Initiatives Ohio’s Third Frontier Rising Above the Gathering Storm Falling off the Flat Earth America Competes Act Advancement of University Research Parks and Incubators

  10. Relationships Research Research is the driving force to create new ideas and inventions!! Innovation Entrepreneurship Introduction of Ideas into the marketplace!! Regional Growth and Development

  11. Research and Regional Economic Development • Creates Job Growth • 33 jobs Created for every $1 million in Academic R&D • Attracts and Retains Talented People • To research centers, premier faculty, graduates, and post-docs • National and International Recognized Research Enhances Economic Opportunities

  12. Innovation and Regional Economic Development • Research and Applied Research • Development of technology and licensing to industry (local or non-local) • UT 2007 New Licenses-18, Active Licenses-74, Revenue-$656K • Development of Technology as a Platform for a New Technology-Based Firm • University spin-off firms • University incubators • UT 2007, Revenue-$656K, Total Spin off companies-10  

  13. UT Actions – Research/Innovation • Increasing Academic Research • 2007 $43 million; 2011 $100 million • Attraction of Federal R&D Facilities • Internationally Recognized Research • Increased Awards of Ohio’s Third Frontier Funding • Active (not passive) Technology Transfer • Support Incubation of Firms and Recruitment of Technology Companies • Assist Local Companies with Federal Grants (SBIR) • Expand Opportunities on HSC Campus • Support of Cluster-based Economic Strategy

  14. State of Ohio Research Clusters A research cluster is defined by a critical mass of distinguished and highly productive faculty and researchers, quality graduate students, infrastructure, and robust academic, business and government collaborations that have led to the attainment of international prominence in research and commercialization. The resources of a cluster must be aligned to pursue a specific technology/research focus area representing competitive differentiation that is a unique and sustainable signature which is difficult to imitate and overcome by others.  (Ohio Department of Development and the Ohio Board of Regents)

  15. Northwest Ohio Industrial Clustersw/UT Research Support Specialized Agriculture (Greenhouse) Alternative Energy (cross-cutting) Transportation and Logistics Architectural, Engineering and Construction Services

  16. Entrepreneurship and Regional Economic Development • Commercial Development • Market Research • Business/Strategic Planning • Process Development and Support Systems • Employee Staffing • Financial Resources • Operations Planning • Intellectual Property Protection and Management • Business Development • Incubators and Incubation Support • S&T parks

  17. UT’s Actions – Entrepreneurship • CTEI - Center for Technological Entrepreneurship and Innovation • CTEI - Consultative Services • Entrepreneurship Curriculum • 2007-08 Entrepreneurship Practicum • Other – College of Engineering, Law • Support Incubation of Firms and Recruitment of Technology Companies to the Region • S&T Corridor major element of strategy

  18. Both a virtual pathway and a physical location supporting knowledge-basedeconomic development

  19. Science and Technology Corridor Operations Group Members Chairman of the Board – Tom Gutteridge Operations Group – Mary Jo Waldock Internal members – Research Development, Marketing, Facilities, Govt. Affairs, Advancement/Foundation, Engineering Dean and Arts & Science Dean, Inter-modal Transportation, Urban Affairs External members – RGP, City of Toledo, ODOD, Port, TMACOG, TAGNO, Chamber, LCIC, and Plan Commission

  20. Science & Technology Corridor Milestones 2003 – 2005 Concept - Science and Technology Corridor UT and BG researchers identify eight industry clusters for northwest cluster-based economic development UT Clean and Alternative Energy Incubator opens 2006 Medical University of Ohio and UT merge Technology park on UT Health Science Campus is key priority in the Lucas County Comprehensive Economic Development Strategy Entrepreneurial Signature Program (ESP) $15 million award from the State of Ohio to the RGP promote tech-based business State of Ohio $18.6 million grant establishes the Wright Center for Photovoltaic Innovation and Commercialization (PVIC) 2007 MWOE Solar (an incubator tenant) receives a $7 million venture capital investment Science and Technology Corridor Corporation creates a 501(c)3 and forms a Board of Directors Science and Technology Corridor establishes partnership with RGP for business development EDA grants $1.9 million for infrastructure and road development EDA grant award for R2 Incubator 2008 Upcoming…

  21. Corridor Area Property Database Land Plan RFP Political Strategy Corridor “Front Door” Regional/National Marketing Strategy Alignment with Community Economic Development Strengths (Clusters, IBM areas of Competitiveness) Strategic Business Plan Outline Business Development and Commercialization Diagram UT Inventory of Economic Development Resources Deliverables Update STC Operations Group

  22. Where Do We Go From Here? • Increase the Research Enterprise • Grow Technology Based Commercialization and Entrepreneurship • Expand Educational Attainment and Workforce • Enhance the Quality of Place (arts, etc.) • Work with Partners * All strategies above interdisciplinary within the University

  23. “We will provide leadership in the rejuvenation of the economy of northwest Ohio, and will expand our community outreach and global engagement.” Directions: UT 2007

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