A university has long been considered an institution of higher learning with the immutable dual goals of research and teaching. A “public” university, however, has also had the founding principle of service, the performance of which is often linked to the region from which it receives public funds. Recently, this service component has morphed to playing an active role in regional economic development. This paper reviews the factors that have led to the situation in which a public university must define a relevant and significant set of objectives for itself in improving the economy of the community it serves. Further, a process model is suggested along with associated metrics, based on practices followed at several universities each of which has played a major role in regional economic development.
Review of Business Research
Regional Economic Development; Public University Community Service; Wealth Creation; Net Job Creation
Salazar, Andres C.. "Economic Development at a Public University - A Process Model and Associated Metrics." 6, 4 (2006): 133-142. http://digitalrepository.unm.edu/ece_fsp/100