economic development summit
The CONNECT Economic Development Summit was held Tuesday, November 9, 2010, at the Indian Pond Country Club in Kingston. More than 150 leaders from business and industry, education, and community gathered to discuss economic development in Southeastern Massachusetts and make recommendations about the role of higher education.
The following links will connect you with highlights from the event:
Read the follow-up document on sector requests and CONNECT resources here.
A summary of preliminary findings and recommendations from the summit is available here: CONNECT Southeastern Massachusetts Regional Economic Development Summit Summary of Recommendations.
The day's program featured a variety of speakers and break-out sessions.
Summit attendees were the first to receive the CONNECT Economic Impact Report 2010.
View Dr. Michael Goodman's discussion on economic trends and opportunities in Southeastern Massachusetts. Read Dr. Goodman's accompanying visual presentation entitled The Education Attainment Gap in Southeastern Massachusetts and its Economic Development Implications.
David Cedrone, Associate Commissioner for Economic & Workforce Development, MA DHE, discussed the role of higher education to workforce development.
A Town Hall Session, moderated by Lisa Strattan, Editor-in-Chief of the Herald News of Fall River and Taunton Daily Gazette, featured presentations by the CONNECT CEOs and outcomes from the concurrent break-out sessions.
Photographs from the Economic Development Summit are available here.
Access additional contact information for Southeastern Massachusetts Economic and Workforce Development Agencies.
Highlights of the CONNECT Economic Impact Report 2010 include:
Collectively, over 53,000 students were enrolled in the six CONNECT institutions in FY09.
Last year, the six Connect colleges and universities awarded over 5,000 degrees, nearly 700 certificates, and provided non-credit training for more than 18,000 individuals. 82 percent of the students--nearly 44,000—came from Southeastern Massachusetts towns and cities.
The number of students at the six colleges and universities has grown 10 percent in the last five years.
A majority of the students who graduate from our institutions stay in Southeastern MA. In fact, of the alumni graduated from the six institutions, more than 105,000 reside in Southeastern Massachusetts. If all the CONNECT alumni who live in Southeastern MA lived in the same community, their population would form the largest city in the region—bigger than Brockton, Fall River, or New Bedford.
While the main mission of the CONNECT institutions is education, the six CONNECT schools are also major employers and a stabilizing economic anchor for the region.
The six colleges and universities employ 9,400 faculty, staff, and students. Collectively, the partnership is one of the top five employers in the region, along with SouthCoast Hospitals, Acushnet Company of Fairhaven, Technical Futures of Canton and Shaw Group of Stoughton.
The estimated economic impact of the CONNECT institutions throughout the state is $705 million, with $670 million remaining in Southeastern Massachusetts.
In terms of revenue, if the CONNECT institutions were a publicly held company, they would rank #37 in the state and #4 in the region.
The state appropriation for higher education comprises only 30% of the institutions’ support.
While enrollment has grown 10% in five years, state support has dropped steadily. Between 2004 and 2009, Massachusetts cut public higher education funding per student by more than 13%. Massachusetts ranks 46th among the 50 states in per capita support for public higher education.
- Yet it’s becoming more and more important to get a college education. Of the fastest-growing occupations in the state projected through 2016, ten of the top 15 will require education or training beyond a high school diploma. Research shows the lifetime difference in earnings between a high school graduate and someone with an Associate’s degree is nearly half a million dollars. The difference in earnings between someone with a high school diploma vs. a Bachelor’s degree is over one and a half million dollars.