For every dollar invested in research universities, the state will reap a 23 percent return each year, UA officials said Thursday. This message was part of the results of an economic study conducted by Jeffery T. Collins, director of the UA Center for Business and Economic Research, and Craig T. Schulman, associate professor of economics. Also, the study showed that investment in higher education in general returns eight dollars for every dollar invested over a 10-year period, he said. It not only demonstrates the impact of research investment on personal income but also quantifies the benefits of externally funded research performed by UA faculty and students. Schulman said the study reviewed the per capita income in all 50 states, and he examined the linkage between income and education.
Industry comes to the university for students.
Collins added that research keeps students in school. Schulman said this study is the first of its kind as far as he was able to determine, but they used standard methodology and economic analysis. The commission is made up of 92 business, government and academic professionals and students with the purpose of explaining how the state's success is linked to the UA, according to a paper written by White and Bob Smith, provost and vice chancellor for academic affairs. Any student or RSO wanting 15 minutes of fame can speak about the organization or discuss the issues of the day. For more information, call 575-4646.