Phil Power, president of the Center for Michigan, urges the state to
invest in its research institutions as a measure of strengthening the
state's economy.
Excerpt:
The core of the argument for supporting research universities is a
powerful one: Collectively, they return $26 to the state for each
dollar of state support. "You find me another place where the state
invests $1 and gets $21 (she meant to say $26) back," U-M President
Mary Sue Coleman told the
Detroit Free Press.
The presidents pointed to the Research Triangle in North Carolina as an
example of what can happen over time. Fed by three high-quality
research universities -- Duke University, the University of North
Carolina-Chapel Hill and North Carolina State University -- the
triangle today hosts 157 companies, some 50,000 direct and contract
employees and an annual payroll of around $2.8 billion.
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