Student Corner: The Evolving Role of Universities in Community Economic Development

Source: UNC-Greensboro Community Development <p>The role and power of universities in regional economic development is well documented. Research from UNC’s Department of City and Regional Planning suggests that American research universities engaging in economic development missions have directly and positively influenced their surrounding regional economies. Similar results have been documented in Western Europe and throughout the developing world, where literature points to universities as a pivotal tool in catalyzing economic growth. In North Carolina, the UNC system actively promotes its 17 campuses as engines of economic development, committing broadly to a mission of entrepreneurship while outlining the targeted economic development strategies of each school.</p> <p>While a great deal of policy and academic efforts have focused on the regional effects of university engagement, very little discussion has focused on the economic role of universities at the municipal and neighborhood levels, where their direct roles in placemaking, community identity, and capital investment are critically important. As colleges and universities across the country expand in response to growing enrollment, the expansion of their footprints often has dramatic effects on their surrounding neighborhoods and built environments.</p> <p>In a previous blog post, UNC School of Government faculty member Jonathan Morgan specifically outlines four roles universities serve in the economic development process, including three that directly impact local economies. While colleges and universities have the unique role of educational output, contributing human capital directly to the growing knowledge economy, they also consume goods and services, advise local industries and business leaders, and anchor local revitalization efforts. Importantly, this final point has become increasingly relevant for [...]</p>