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Financial
Building a Better Economic Foundation
For the Community
Urban universities are a major economic force in and for America’s cities. In fact, it is estimated that 90 percent of the economic power of colleges and universities is expressed in our cities and their immediate surrounding areas.* It is not hard to understand why, once one begins to count the economic benefits a region reaps from the presence of a public research university like The University of Akron. Among the most obvious – and frequently overlooked – of these, are the direct financial contributions institutions make to the communities.

*(Neal Peirce, The Washington Post Writers Group, 2002)

UAs annual impact on Ohio's economy is $538 million
2006 Tax Contributions Akron area largest public employers
Building a Better Economic Foundation
For the Individual
Today, a high school education is only the first stop on the road to a lifetime of learning. Perhaps more than at any other time in human history, one’s economic well-being depends upon one’s education. The latest Census Bureau study illustrates the dramatic difference in earning potential between those who hold college degrees and those who complete only a high school diploma.
Annual lifetime earnings based upon education Average Annual Earnings by Education Level

Akron area largest public employers

Revenues by function

Revenues by function Revenues by function Revenues by function
Innovative plans for a diverse region
Redefining our borders Our economic future as a region requires us to think imaginatively and act boldly. The cooperation that will allow us to bridge our differences begins with the acceptance of our identity as a single entity.

Northeast Ohio has the necessary components to build a bridge of economic regional success. Like the Leonardo bridge, which unites four arches into a single graceful structure, so too, we can unite the communities of this region into a single, dynamic economic force.

To flourish in a 21st century economy, we must think regionally and compete globally. The University of Akron is committed to regional alliances. We are expanding the talent pool, enhancing research and creating a rich environment for entrepreneurial success.

www.uakron.edu

Redefining our boundaries
Van Gough Drawing Great structures create powerful symbols. What we build reflects who we are and becomes a visual metaphor for our society. One of the most compelling of these symbols is the Leonardo bridge, a structure that literally spans both space and time.

The bridge was first envisioned by Leonardo da Vinci more than 500 years ago. He correctly surmised that complex, diverse forces could be unified using simple geometric principles. But no one had the foresight or courage to trust da Vinci’s design until 2001, when the Leonardo Bridge Project in Oslo, Norway made his marvelous design a reality.

Northeast Ohio has the tools to build an economic Leonardo bridge. Regional Clusters of Innovation in polymers, health care services, electronics and other areas can generate new technologies that, in turn, create new wealth and opportunities. Major research institutions like Case Western Reserve University and The University of Akron supply the technological knowledge and infrastructure to generate such innovations.

If we are bold we can unify these and other complex and diverse economic forces, using the simple principles of shared identity and collaboration, to raise a single, encompassing economic structure that carries the fortunes and hopes of all of Northeast Ohio far into the future.

Louis Proenza

Dr. Luis M. Proenza
President
The University of Akron

New Ecomony

The University of Akron is an Equal Education and Employment Institution. ©2006 by The University of Akron