Leveraging a Research University for New Economy Capacity Building in a Rural Industrial Region

Eileen M. Trauth, Michael DiRaimo, M. Richard Hoover and Paul Hallacher

Economic Development Quarterly, 2015, vol. 29, issue 3, 229-244

Abstract: The Pennsylvania State University received funding from the National Science Foundation to develop a model of university–industry engagement that would leverage university resources to address the challenges facing Pennsylvania in its transition to the new economy that is defined by innovation, knowledge, and continuous learning. Influenced by two reports about Pennsylvania by the Brookings Institution in the early 2000s, the resulting university–industry model contains three components. First, it leverages university research to support industrial competitiveness in the region. This includes both technology transfer and helping firms to develop greater capacity for competitiveness in the new economy. Second, it leverages university research to promote innovation and entrepreneurship. Finally, it leverages the land grant university’s education mission to develop and retain a new economy workforce. Thus, the university goes beyond educating its youth; it also creates linkages between the educated workforce and the needs of companies.

Keywords: economic development; innovation; rural industrial development; university–industry engagement; workforce development (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:29:y:2015:i:3:p:229-244

DOI: 10.1177/0891242415581053

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