The University of Alabama reports several notable accomplishments in the past year toward its effort to spur statewide economic development as an innovative driver of growth and to strengthen economic activity.
In its recently released economic development annual report, UA officials highlight noteworthy work, including:
- UA launched the Tide Research Partnership Program to provide partnership incentives with collaborating companies.
- UA created the Office of Economic & Business Engagement and its outreach center in South Alabama.
- UA’s business outreach centers helped minimize the economic impact of the coronavirus pandemic on businesses across the state, protecting future jobs.
- UA strategically aligned its two start-up business incubators.
“Economic development is an important responsibility of the state’s flagship academic institution,” said Dr. Russell J. Mumper, vice president for research and economic development. “The University of Alabama seeks to prepare a job-ready workforce, extend programs to serve rural and urban communities, forge research partnerships, transfer technologies, foster innovation and scholarship, build small businesses, support industry and create jobs.”
The economic development vision stems from the University’s strategic plan that aims to increase impactful activities that affect economic and societal development. Created by UA’s Economic Development Council , the economic development plan helps the council prioritize, coordinate and align all UA economic development assets to ensure they help the University meet its economic development strategic goals.
The plan focuses on four priorities:
- Provide economic development services.
- Prepare current and future workforce and retain talent in the state.
- Start, recruit and partner with companies.
- Measure and evaluate UA’s overall impact on the statewide economy.
The council designated 15 units across three UA colleges and the Office for Research & Economic Development as UA Economic Development Assets. The assets are working in a coordinated manner to make progress on aims and strategic goals relevant to each of their missions.
For more highlights and a look at progress across the four themes of economic priority, view the annual report.
The University of Alabama, part of The University of Alabama System, is the state’s flagship university. UA shapes a better world through its teaching, research and service. With a global reputation for excellence, UA provides an inclusive, forward-thinking environment and nearly 200 degree programs on a beautiful, student-centered campus. A leader in cutting-edge research, UA advances discovery, creative inquiry and knowledge through more than 30 research centers. As the state’s largest higher education institution, UA drives economic growth in Alabama and beyond.