Leadership Louisville Dr. James R. Ramsey President, University of Louisville January 18, 2011

Thank you Our Goal “A Discussion” A Place to Start

Economists like pictures and graphs Some dots and a triangle…

Quick overview of what’s been happening economically in the last few years.

Sources: NBER, BEA, and BLS. * Lowest level during the current recession. The next two quarters (2009:III and IV) have been positive. PeakDecline in real GDP Dec-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% US GDP Endured worse economic downturn since WWII

National Non Agricultural Employment (in 000s) Economy coming back, but job growth will be slow

Kentucky Non Agricultural Employment (in 000s) See any public policy issues here?

Kentucky Manufacturing Employment (in 000s) Structural not Cyclical

Issues – New Economic Clusters “Jobs of Tomorrow” Knowledge Based Economy 4 Keys to Economic Growth

Education Pays Per Capita Income in All 50 States v. Adults with Bachelors Degrees or Higher Data for

What’s all this have to do with Higher Education? We are expected to help improve economic opportunity and quality of life for Kentuckians (HB1-1997) The Law has not changed.

UofL “Premier Nationally Recognized Metropolitan Research University” Educated Workforce Baccalaureates Professional Graduate Research Funded $$ Translational Community Quality of life Solving problems UofL’s RAM program changes thousands of Kentuckians lives. $3.15 million grant will support cancer research in Owensboro. December 2010 Commencement

We understand economic budget reality… But everyone has priorities Kentucky has “leaks in the budget” (Kentucky Chamber of Commerce)

Students or Inmates? One Leak in the Bucket 14