Economic Development Plan
UA Marks Progress on Economic Development Priorities, Strategic Goals
The University of Alabama reports several notable accomplishments in the past year toward its effort to spur statewide economic development as an innovative driver of growth and to strengthen economic activity.
In its recently released Economic Development annual report, UA officials highlight noteworthy work, including:
“Economic development is an important responsibility of the state’s flagship academic institution,” said Dr. Russell J. Mumper, vice president for research and economic development. “The University of Alabama seeks to prepare a job-ready workforce, extend programs to serve rural and urban communities, forge research partnerships, transfer technologies, foster innovation and scholarship, build small businesses, support industry and create jobs.”
The economic development vision stems from the University’s strategic plan that aims to increase impactful activities that affect economic and societal development. Created by UA’s Economic Development Council , the economic development plan helps the council prioritize, coordinate and align all UA economic development assets to ensure they help the University meet its economic development strategic goals.
The plan focuses on four priorities:
- Provide economic development services
- Prepare current and future workforce and retain talent in the state
- Start, recruit and partner with companies
- Measure and evaluate UA’s overall impact on the statewide economy
The council designated 15 units across three UA colleges and the Office for Research & Economic Development as UA Economic Development Assets. The assets are working in a coordinated manner to make progress on aims and strategic goals relevant to each of their missions.