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Higher Education: A True Investment for the Future
Posted Thursday, October 11, 2007 ; 06:00 AM | View Comments | Post Comment

There is a government program that has produced high-paying jobs for the best and brightest all across America -- higher education.

Story By Rob Capehart

How many times have we heard politicians talk about government programs, high-paying jobs and "keeping our best and brightest at home"? Often, the state funds an "economic development" program, but there is very little follow-up to find out whether the money did what our leaders said it was going to do in terms of high-paying jobs or keeping our young people at home.

There is a government program that has produced high-paying jobs for the best and brightest all across America -- higher education. In West Virginia, there is usually little or no discussion about higher education regarding the potential for its contribution to the economic growth of the state.

Last week, however, several lawmakers raised the issue of higher education in terms of the unfair distribution of state appropriations among our public colleges and universities. As president of West Liberty State College, I certainly would agree with Senator Roman Prezioso of Marion County and Delegate John Doyle of Jefferson County that the formula needs to be examined.

Last year, West Liberty State College received a percentage increase in funding equal to only one-fifth of the overall percentage increase in funding to West Virginia's colleges and universities. I would also agree with Gov. Joe Manchin that we need to put the politics of the past problems behind us and begin to look at a way that the distribution process can be more equitable.

However, this offering is not intended to be just a blatant plea for our share of state funding (although I guess I've already done that). Instead, I would invite lawmakers and public opinion leaders to elevate the discussion even another notch and begin to recognize the pivotal role that higher education can play in the overall economic growth of our state.

In this context, I don't mean the simple transfer of money from the taxpayers to a government entity for redistribution to its employees and vendors. My purpose is to point out the proven value added that can be generated from placing a greater priority on higher education in terms of the overall state budget.

The key to higher education's role in economic growth is research. A study conducted by Ernst & Young concluded that 90 percent of all new technologies are created at colleges and universities and that 70 percent of all jobs created from these new technologies stay in the town where that college and university is located.

The growth in North Carolina wasn't the result of success in basketball. True, tobacco fueled the North Carolina economy in the past, but the sleepy little towns of Chapel Hill, Durham and Winston-Salem exploded as a result of the rapid investment in the "Research Triangle." Silicon Valley in California is another example of economic growth attributable to university-inspired research.

In West Virginia, a great deal of Morgantown's growth can be traced to the research being conducted at West Virginia University, especially in the area of health sciences. In his inaugural address, former WVU President David C. Hardesty Jr. promised that his administration would "extend the frontiers of knowledge." He noted that the 20 centers and institutes located on the campus at that time returned more than $10 to the campuses for every $1 provided by the state. One only needs to drive through the WVU Medical Center campus to see the extraordinary results of his vision.

In the past, we've built a lot of buildings and cut a lot of ribbons. Politicians are fond of ribbon-cuttings. The West Virginia countryside is replete with undeveloped development sites.

Investment in research, on the other hand, requires an investment in human capital -- investing in people. Often, it takes years for such research to produce results. But, once it starts, it usually flows.

Investment in research does not necessarily mean just giving grants of taxpayers' money to researchers for some esoteric exercise. It means investing in professors and other academics who have a knack for securing grants from the plethora of public and private sources that are available all across America and throughout the world.

In 2002, the state authorized each state college and university to establish an eminent scholars endowment trust fund to provide additional monies for outstanding professors. I would suggest that such a program be expanded through a state commitment of $10 million per year for 10 years to be distributed among the funds at the various institutions of higher learning in West Virginia.

Armed with a $100 million endowment, the state would be positioned to bring world-class researchers into West Virginia who, in turn, would generate millions of dollars from other public and private sources that would flow into our communities. Emerging technologies and other commercial ventures that would evolve also would keep "our best and our brightest" from leaving the state. Funding these types of endowed chairs would be a real investment in the economic growth of our state that has been proven throughout the country.

True, a great deal of the money would go to researchers at West Virginia University and Marshall University, the state's primary research institutions. But at West Liberty State College, Dr. Robert Kreisberg, dean of the School of Science, has done some outstanding and extremely beneficial research in science through private funds he has generated, and I'm sure that the potential for additional work exists here and at other colleges throughout the state.

It's time to cut a few ribbons on the human capital we have in this state.

Rob Capehart is president of West Liberty State College in Ohio County.

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