february 17, 2010 dr. james r. ramsey president university of louisville kentucky ccim luncheon
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1. Quick look at the environment2. Our responsibility at UofL3. Progress on five fronts – All tied to economy/quality of life
4. Results of recent independent analysis of UofL’s impact
5. The “Pitch”6. Questions
3
Our GoalsNext Few Minutes
We know that nationally times have been unprecedented…
5Sources: NBER, BEA, and BLS.
* Lowest level during the current recession. The next two quarters (2009:III and IV) have been positive.
Peak Decline in real GDPDec-07 (IV) -3.70%Mar-01 (I) 0.40%Jul-90 (III) -1.40%Jul-81 (III) -2.90%Jan-80 (I) -2.20%Nov-73 (IV) -3.20%Dec-69 ((IV) -0.20%Apr-60 (II) -1.10%Aug-57 (III) -3.70%Jul-53 (II) -2.60%Nov-48 (IV) -1.70%
U. S. Job LossAre we out of the woods yet?
6
Mar-0
8
Apr-08
May-0
8Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-0
9
Apr-09
May-0
9Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10-800
-700
-600
-500
-400
-300
-200
-100
0
100
And Kentucky has not been immune to the downturn
7
Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-101750.0
1770.0
1790.0
1810.0
1830.0
1850.0
1870.0
1890.0
Jan '991769.4
Dec '071872.4
Dec'091764.5
Kentucky Economy:Manufacturing – Our Bread and Butter
Manufacturing employment (in thousands)
p: preliminary 8
Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10200.0
220.0
240.0
260.0
280.0
300.0
320.0308.3
Dec. 208.8 (p)
So??
Kentucky Employment Losses
Cuts/Cuts/Cuts
9 for 9With two more on the way…
State Individual Income Tax/Sales Tax
9
ButWe cannot forget…
We have a public missionWe are expected to help improve economic
opportunity and quality of life for Kentuckians (HB1 – 1997)
10Pikeville Dental Clinic - June 2009
We are more intensely focused than ever!
We continue to make progress
11
Despite cuts and challenges…
Our progress since reform…
1 – Better students – policy importance • Freshman class average ACT• 1998 – 21.4• 2009 – 24.5• State avg. – 20.8 (19.4)• National avg. – 21.1
• 24 National Merit Scholars
• More students from outside Jefferson County than inside
12
Our progress since reform…Our Commitment going forward
2 - Our Graduates – policy importance
• 1998 – 1,734 degrees awarded• 2009 – 2,428 degrees awarded– 2020 Goal – 3,074
• Graduation rate – Increased from 30% in 1998 to 48.4% in 2009– 2020 Goal – 60%
• Doctoral Degrees– 1998 – 76– 2009 – 142– 2020 Goal – 350
• A Rhodes Scholar13
14
Our progress since reform…Our commitment to research
Total extramural funding awards:
1998 - $42 M2009 - $140 M
2020 Goal - $400 M
3 – Research – policy importance
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Research, Creativity and Discovery
James Graham Brown Cancer CenterBreast Accreditation
First in Kentucky
Adult Heart Stem Cell TransplantRebuilding hearts and lives
Fueling with bio-diesel
Our progress since reform…Our commitment
12th Best “Community” Neighbor University in the country• Earned a B+ from Sustainable Endowments Institute; tied for top
honor with Berea College• Scholar House – 56 apartments housing single mothers working on
their education• Dental School – dental clinics in Eastern Kentucky• Signature Partnership• Revitalizing neighborhoods– Park Hill – Province– Reynolds Lofts
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4 – Community – policy importance
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“The University of Louisville and the city of Louisville drive our state.” –
John Calipari, UK Basketball Coach Courier Journal, January 22, 2010
Our progress since reform…Our commitment
5 – The Economy – Everyone understands importance
• From 2003 – 2009 – a time of state budget cuts
• 9,764 jobs created (direct & indirect)• Roughly – 40% of net new jobs created in
Kentucky during the time frame studied
18
UofL – the DriverJob Creation
The University of Louisville: An Engine of Growth from 2003-2009
Manoj ShankerJanuary 2010
We are driving the economy…Construction projects
ShelbyHurst
Louisville Arena
Outpatient Center
Center for Translational Research
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Belknap Entrance/OvalBelknap Research BuildingCardinal StationChemistry Vent Phase ICode Improvements-Fire SafetyCommunity Park DormEkstrom Basement ArchivesEkstrom Library ExpansionErnst HallGreek HousingHouchens-Graduate SchoolKentucky TrailerKersey Library RenovationKurz Hall
20
UofL – the DriverMajor Construction Projects
Lacrosse FieldMinardi HallMITCNatatoriumOld World Pasta PlantPatterson Baseball StadiumSecond Street PropertyThe BellamyThe ProvinceThrelkeld Hall Honors ProgramTrager Center FieldhouseTrager Field Hockey ExpansionYum Center
Belknap Campus
Health Sciences CampusCancer Center RenovationCardiovascular Innovation InstituteChestnut Garage ExpansionCII RenovationClinical & Translational Research Bldg.Delia Baxter ResearchDental School 1st FloorHaymarketHSC Fitness FacilityHSC Parking Garage IIInhalation LabsPhoenix Place ApartmentsSchool of Public HealthTunnel Extension/Improvements
21
UofL – the DriverMajor Construction Projects
Shelby CampusCenter for Predictive MedicineRegional Computer Forensics LabShelbyHurst Development Work
OtherCressman Center – DowntownLouisville Arena - Downtown
• From 2003 – 2009• UofL activities added $1.2 billion to Kentucky’s
economic output
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UofL – the DriverEconomic Engine
UofL State0%20%40%60%
52%36%
Net Increase in Economic Output from FY03 to FY09
Source: Manoj Shanker
• Taxpayer ROI (return on investment)– Every dollar UofL receives in state funds results in
an additional $4.12 going into the economy– In 2003 the ROI was $2.71
23
UofL – the DriverGreat Investment
Source: Manoj Shanker
• Expense management/reengineering• Focus on “underperforming assets”• Fundraising• Growing clinical programs• Grow research/commercialization/industry
contracting • Partnerships• Being creative (e.g. TIF)
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How we do this with budget cuts…
• Education – “creative class” – jobs follow people• Research – is economic development• Helping build new “clusters–Healthcare/life sciences– Logistics/distribution– Energy
• Investing in community
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Economic GrowthThe Big Picture
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Keeping the engines running…4 keys to Kentucky’s future
• Education
• Education
• Education
• Education
The fuel for an economic recovery is educating
Kentucky’s citizens.
Other big leaks…
• Medicaid• Public employee benefits• Retirement• Health insurance
Diverting money from our future growth
28
We need your support…CPE budget recommendations
• Fund maintenance and operations for current buildings• Funding for strategic initiatives –
retention/graduation• Fund additional classroom space• Keep “Bucks for Brains” alive
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