College Planning & Management

MAR 2013

College Planning & Management is the information resource for professionals serving the college and university market. Covering facilities, security, technology and business.

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Page 59 of 83

PUTTING THE 'U' IN ENTREPRENEURSHIP Never the Twain Shall Meet … Until Now In the past, when one thought about scrappy business upstarts and treasured colleges and universities, there was not much the two were felt to have in common. If anything, they were considered opposites: one trying to survive; the other continuing to thrive. Increasing numbers of colleges and universities, however, are adopting more of a change-agent, upstart mentality. Schools such as the University of Rochester, Duke University, and Case Western Reserve Uni- Delivering Solutions to Facility Supplies versity are prime examples of institutions that are finding ways to circumvent the goslow approach that long has characterized American higher education. The processes and technologies that these institutions develop find their ways into the marketplace as business ventures. And the creation of these technologies leads universities to beef up their own hiring. Why this "foot-on-the-gas" mentality? It has to do with culture changes and the conscious adoption of a philosophy that knowledge-based innovation drives the economy. It's the kind of work that has been happening, to much acclaim, in the research triangle area of North Carolina for years. The movement, however, is equally vibrant in older industrial cities There is irony in the fact that while newspaper headlines are littered with questions of the value of a college education, it is inescapable that knowledge-based innovation drives the economy. such as Rochester and Cleveland. In 2009 alone, Rochester, Duke, and Case Western Reserve together accounted for more than $1B in federal research funding which has fueled local growth beyond the campus gates. The success of these schools in winning federal research grants puts each into the top 30 schools for federal research dollars in 2009, the last year for which complete figures are available. xpedx, a business of International Paper © 2013 60 COLLEGE PLANNING & MANAGEMENT / MARCH 2013 Adding to Positive Job Numbers Duke and Rochester are employment leaders in their communities. Duke, the largest employer in Durham, employs 19,755 residents with salaries and benefits totaling $931M, according to a 2007 economic WWW.PLANNING 4EDUCATION.COM

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