Theme 8: Economic Development

Phase 2 update

NOTE — This content was presented as a slide presentation at a chairs and directors workshop on October 11, 2024. It does not represent any approved actions or conclusions.

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Provost’s Fellow: Sharmila Mukhopadhyay 

Develop and execute a targeted survey to catalog the external economic development engagement and outreach activities.

There are several (slightly different) definitions of what activities constitute external economic development engagement and outreach.  UMaine is currently developing an application for APLU Innovation and Economic Prosperity (IEP) recognition. (APLU guidelines attached)

 It is suggested that SRE leadership coordinate with the APLU team in developing that survey.

Perform a benchmark exercise of how other universities engage in such activities.

  • Next step is to decide who should be included in this benchmarking:  (i) all US land grant Universities or just those in the Northeast Region; (ii) land grants at other EPSCOR states; (iii) Use the peer group currently used for measuring KPI performance
  • Since benchmarking is a broad task, it is advisable to narrow down the focus to unique solutions anyone may have adopted for sizable economic development impacts for their state and university 

Propose criteria to evaluate opportunities for consolidation, elimination, or restructuring.(Few criteria suggestions listed below)

  • Is the activity aligned with UMaine Strategic Vision and Values?  Please evaluate how this aligns with the above
  • Does the activity meet a state or local community or industry need? Please define the existing needs by community, state, and industry
  • Is there potential for positive impact on  the financial goals of the university?
  • Is there potential for productivity improvements by streamlining synergistic (overlapping) activities? 

Create a more focused plan and charge document to follow up for Phase 3.