Young Alumni New York City, New York Dr. James Ramsey President, University of Louisville Dr. James...
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Transcript of Young Alumni New York City, New York Dr. James Ramsey President, University of Louisville Dr. James...
Young AlumniNew York City, New York
Dr. James RamseyPresident, University of Louisville
Thank you for being here!
We love being in the
Some Blue Dots and A Red Triangle
15% 20% 25% 30% 35% 40%$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
New video here
Great Things Are Happening But It Hasn’t Been Easy
1st Q05
2ndQ05
3rdQ05
4thQ05
1stQ06
2ndQ06
3rdQ06
4thQ06
1stQ07
2ndQ07
3rdQ07
4thQ07
1stQ08
2ndQ08
3rdQ08
4thQ08
1stQ09
2ndQ09
3rdQ09
4thQ09
1stQ10
2ndQ10
3rdQ10
4thQ10
1st Q11
2nd Q11
3rd Q
11
4th Q11
-10
-5
0
5
10
2.8%
US GDP
Very slow recovery
Kentucky Employment Non Agricultural December 2011
1750.0
1770.0
1790.0
1810.0
1830.0
1850.0
1870.0
1890.0
Jan '991769.4
Oct '001833.6
Jul '031777.6
Nov '071872.4
Dec '111808.7
Notes – 1 – Most people employed since January 20092 – Still 63,700 fewer people working today
63,700 job loss
Kentucky Employment ManufacturingDecember 2011
Jan-99
Jul-99Jan
-00Jul-0
0Jan
-01Jul-0
1Jan
-02Jul-0
2Jan
-03Jul-0
3Jan
-04Jul-0
4Jan
-05Jul-0
5Jan
-06Jul-0
6Jan
-07Jul-0
7Jan
-08Jul-0
8Jan
-09Jul-0
9Jan
-10Jul-1
0Jan
-11Jul-1
1Jan
-12200.0
220.0
240.0
260.0
280.0
300.0
320.0
308.3
Dec '11217.3
• Economy• Productivity gains• Offshore
Some Observations•New economy
– Knowledge based– Human capital…
Microsoft/Google/etc.•Global economy• Paradigm shift
– Jobs follow people– Richard Florida – Creative Class
3 T’s
Some Observations• Importance of New Clusters
– Healthcare/Life science Human genome project – game changer
– Logistics/distribution But…
– Advanced (“additive”) manufacturing Nano/MEMS
– Energy Renewable
– Business services Start-ups/Entrepreneurial
What’s all this have to do with Higher Education?
• Creating “creative class”– Human capital – Brightest
• Research– It is economic development– Start-ups– Business proximity (Milken Institute)
•Quality of life– Social/culture/artistic vibrancy– Owsley Brown effect
Rather Than Investing In Higher Education
• Revenue growth FY 07-12 – 1.1% • Expenditures – the bad news
— Some History
FY 07-12
Medicaid 32.1%
Health Insurance
Schools 33.1%
State Government 14.6%
KTRS 40.9%
KERS 75.0%
Debt Service 14.5%
Corrections 13.0%
Student Financial Aid 14.6%
“Higher Ed” -4.8%
%
Students or Inmates?
Source: KY Chamber of Commerce – Leaky Bucket
Education PaysPer Capita Income in All 50 States v. Adults with Bachelors Degrees or Higher
Data for 2009
15% 20% 25% 30% 35% 40%$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
$31,883
Some Numbers1998 2002* 2011
Average ACT score of all entering freshmen 21.4 23.2 24.7
6-year Graduation Rate 30.1% 33.0% 50.8%
Undergraduate Degrees Awarded 1,734 1,849 2,618
Doctoral Degrees Awarded 76 90 163
Research Expenditures $39.1M $80.9M $195.5M
Formal Patents Issued 55 72 190
Start-Up Companies (cumulative) 1 6 36
Endowment $317.0M $478.9M $773.3M
Today and Going Forward…We Need You More Than Ever!
• Be engaged• Help us communicate• Help us recruit• Talk to policy makers• Give back