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okolona bus assoc 2-25-10

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									   Okolona
   Business
  Association

 Dr. James R. Ramsey
       President
University of Louisville


             February 25, 2010
    Thank you for
      inviting me!
It is an honor to be
    here with you
         today.
                       2
Economists like pictures and graphs
    Some dots and a triangle…




                                      3
                     Our Goals
                  Next Few Minutes
1. Quick look at the environment
2. Our responsibility at UofL
3. Progress on five fronts
  – All tied to economy/quality of life
4. Results of recent independent analysis of
   UofL’s impact
5. The “Pitch”
6. Questions

                                               4
Let’s take a quick look at
     the environment


                             5
                   And Kentucky has not been
                    immune to the downturn
1890.0
                                        Dec '07
                                        1872.4
1870.0


1850.0


1830.0


1810.0


1790.0
                                                  Dec'09
         Jan '99                                  1764.5
1770.0
         1769.4

1750.0




                                                      6
                        Kentucky Economy:
                Manufacturing – Our Bread and Butter
                     Manufacturing employment (in thousands)
320.0
        308.3

300.0


280.0


260.0


240.0

                                                                 Dec.
220.0
                                                               208.8 (p)

200.0




                                  p: preliminary                           7
                So??

   Kentucky Employment Losses


State Individual Income Tax/Sales Tax


          Cuts/Cuts/Cuts
              9 for 9
    With two more on the way…
                                        8
      Despite cuts and challenges…


We are more intensely focused
         than ever!

We continue to make progress



                                     9
                 Our progress since reform…

1 – Better students – policy importance

• Freshman class average ACT
    • 1998 – 21.4
    • 2009 – 24.5
    • State avg. – 20.8 (19.4)
    • National avg. – 21.1

• 24 National Merit Scholars

• More students from outside Jefferson County than inside

                                                            10
                Our progress since reform…
               Our Commitment going forward
2 - Our Graduates – policy importance
• 1998 – 1,734 degrees awarded
• 2009 – 2,428 degrees awarded
   – 2020 Goal – 3,074
• Graduation rate
   – Increased from 30% in 1998 to 48.4% in 2009
   – 2020 Goal – 60%
• Doctoral Degrees
   – 1998 – 76
   – 2009 – 142
   – 2020 Goal – 350
• A Rhodes Scholar                                 11
                                                     11
               Our progress since reform…
               Our commitment to research
3 – Research – policy importance

                         Total extramural funding awards:

                                      1998 - $42 M
                                     2009 - $140 M
                                   2020 Goal - $400 M




                                                            12
           Research, Creativity and Discovery




                                   Adult Heart Stem Cell Transplant
                                     Rebuilding hearts and lives




James Graham Brown Cancer Center
       Breast Accreditation
         First in Kentucky



                                     Fueling with bio-diesel          13
                  Our progress since reform…
                       Our commitment
4 – Community – policy importance
12th Best “Community” Neighbor University in the country
• Earned a B+ from Sustainable Endowments Institute; tied for top
   honor with Berea College
• Scholar House – 56 apartments housing single mothers working on
   their education
• Dental School – dental clinics in Eastern Kentucky
• Signature Partnership
• Revitalizing neighborhoods
    – Park Hill
    – Province
    – Reynolds Lofts
                                                                    14
               Our progress since reform…
                    Our commitment
5 – The Economy – Everyone understands importance

 “The University of Louisville and the
  city of Louisville drive our state.” –
       John Calipari, UK Basketball Coach
            Courier Journal, January 22, 2010




                                                    15
                     UofL – the Driver
                       Job Creation
• From 2003 – 2009 – a time of state budget cuts
• 9,764 jobs created (direct & indirect)
• Roughly – 40% of net new jobs created in
  Kentucky during the time frame studied




                      The University of Louisville:
                 An Engine of Growth from 2003-2009
                            Manoj Shanker
                            January 2010              16
    We are driving the economy…
                   Construction projects




Louisville Arena                 Center for Translational Research




  ShelbyHurst                              Outpatient Center

                                                                     17
                         UofL – the Driver
                     Major Construction Projects
                                Belknap Campus
Belknap Entrance/Oval                  Lacrosse Field
Belknap Research Building              Minardi Hall
Cardinal Station                       MITC
Chemistry Vent Phase I                 Natatorium
Code Improvements-Fire Safety          Old World Pasta Plant
Community Park Dorm                    Patterson Baseball Stadium
Ekstrom Basement Archives              Second Street Property
Ekstrom Library Expansion              The Bellamy
Ernst Hall                             The Province
Greek Housing                          Threlkeld Hall Honors Program
Houchens-Graduate School               Trager Center Fieldhouse
Kentucky Trailer                       Trager Field Hockey Expansion
Kersey Library Renovation              Yum Center
Kurz Hall                                                              18
                           UofL – the Driver
                       Major Construction Projects
         Health Sciences Campus
                                                        Shelby Campus
Cancer Center Renovation
                                          Center for Predictive Medicine
Cardiovascular Innovation Institute
                                          Regional Computer Forensics Lab
Chestnut Garage Expansion
                                          ShelbyHurst Development Work
CII Renovation
Clinical & Translational Research Bldg.
                                                              Other
Delia Baxter Research
                                          Cressman Center – Downtown
Dental School 1st Floor
                                          Louisville Arena - Downtown
Haymarket
HSC Fitness Facility
HSC Parking Garage II
Inhalation Labs
Phoenix Place Apartments
School of Public Health
Tunnel Extension/Improvements
                                                                            19
                      UofL – the Driver
                      Economic Engine
• From 2003 – 2009
• UofL activities added $1.2 billion to Kentucky’s
  economic output
        60%                52%
                                               36%
        40%
        20%
         0%
                        UofL               State
          Net Increase in Economic Output from FY03 to FY09

                       Source: Manoj Shanker                  20
                     UofL – the Driver
                     Great Investment

• Taxpayer ROI (return on investment)
  – Every dollar UofL receives in state funds results in an
    additional $4.12 going into the economy
  – In 2003 the ROI was $2.71




                     Source: Manoj Shanker                    21
        How we do this with budget cuts…

• Expense management/reengineering
• Focus on “underperforming assets”
• Fundraising
• Growing clinical programs
• Grow research/commercialization/industry
  contracting
• Partnerships
• Being creative (e.g. TIF)

                                             22
                  Economic Growth
                   The Big Picture
• Education – “creative class” – jobs follow people
• Research – is economic development
• Helping build new “clusters
   – Healthcare/life sciences
   – Logistics/distribution
   – Energy
• Investing in community


                                                      23
                         Education Pays
                 Per Capita Income in All 50 States v. Adults
                      with Bachelors Degrees or Higher
$55,000                         Data for 2007


$50,000
                                                                 2007

$45,000


$40,000


$35,000


$30,000


$25,000
          15%   20%          25%            30%            35%          40%
                                                                          24
     Keeping the engines running…
         4 keys to Kentucky’s future
        • Education – Early Childhood
             • Education – K-12
           • Education – Higher Ed
        • Education – Continuing Adult
The fuel for an economic recovery is educating
             Kentucky’s citizens.
                                                 25
Yet – Kentucky Chamber:
    The Leaky Bucket
       Corrections




                          26
                    Other big leaks…

• Medicaid
• Public employee benefits
   • Retirement
   • Health insurance

         Diverting money from our future growth




                                                  27
         We need your support…
       CPE budget recommendations

• Fund maintenance and operations
  for current buildings
• Funding for strategic initiatives –
  retention/graduation
• Fund additional classroom space
• Keep “Bucks for Brains” alive
                                        28
www.louisville.edu/legislativeaction




                                       29
    Thank you!

Questions/Discussion



                       30

								
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