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Universities have broad economic and social impacts
on the regions and communities they are embedded in.
Stakeholders and residents often have little awareness
of the importance of universities in their daily lives,
outside the realm of education. However, impact studies
have demonstrated the strategic role that well-resourced
universities have on their regional economies.
Universities have enormous impacts on a region's economy
through their direct expenditures and the multiplier
effects of these expenditures, through the direct and
indirect impacts on employments, and through the economic
contributions of their faculty, staff, students, and
alumni.
Research universities also play a strategic role in catalyzing
and supporting the competitiveness of regions and their export-oriented
industry clusters. Universities provide industries and companies
with a competitive advantage through their role in producing
highly skilled workers, advanced technology, unparalleled
knowledge, and practical know-how. |
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Industry leaders, especially in the strategic knowledge industries,
are often well-aware of the essential support role that universities
play in the competitiveness of their industries. However,
other government, business, and community stakeholders often
do not recognize these diverse contributions. In today's fast-paced
world, with fierce competition for resources, universities
must continually demonstrate the value of their contributions
to their stakeholders.
ICF International's economic development practice has worked
in over 45 regions around the world helping government, business,
and community leaders enhance the competitiveness of their
regions. We have assisted diverse universities and academic
institutions in documenting, analyzing, and communicating
their diverse economic and social contributions.
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SELECTED PROJECTS |
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University of California
The University of California (UC) has dramatically
shaped California and contributed substantially
to its economic vitality and global competitiveness.
As an institution with a multi-billion dollar
annual budget, it must, however, continually renew
and reinforce the value of its activities to its
diverse public and private stakeholders.
ICF International carried out a three-level analysis:
- the impact of UC on the key industry clusters
driving California's economy, including agriculture,
information technology, and biosciences
- the impacts of the UC system on California's
economy, health care of residents, public education,
and quality of life
- the impact of the UC system at the community,
regional, and campus levels
The UC impact analysis provided the empirical
and qualitative analyses of UC's impacts and determined
the "return-on-investment" for UC stakeholders.
Highlights of ICF International's 350-page report
are available at UC's Web site on the University
of California Impact Report.
The University of California drew on ICF International's
comprehensive report to create a series of fact
sheets communicating the importance of UC to California.
California's
Future: It Starts Here outlines the following:
- UC: A Powerful Engine for Economic Growth,
New Jobs
- California's Future Starts Here: the Economic
Value of Investing in UC
- Economic Growth Starts Here: Current Impacts
of UC Spending on the California Economy
- Economic Growth Starts Here: 10-Year Forecast
of UC Spending Impacts
- Innovation Starts Here: UC Contributions to
Productivity Gains in the California Economy
- It Starts Here: UC Contributions to California's
Future
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