2016 Norman Economic Summit: OU's Economic Impact

ECONOMIC DEVELOPMENT UPDATENORMAN ECONOMIC SUMMIT 2016

Robert Dauffenbach, Sr. Associate Dean of Economic Development & ImpactPrice College of Business

Debra Teufel, Director of Public/Private PartnershipUniversity of Oklahoma

2016 Community Impact Report • Education Impact• Research Impact• Health Care Impact• Economic Impact• Arts & Cultural Impact• Service Impact

The mission of the University of Oklahoma is to provide the best possible educational experience for our students through excellence in teaching, research

and creative activity, and service to the state and society.

Economic Policy

Intellectual Property /

CommercializationEntrepreneurship Business

RecruitmentBusiness

Retention Business

Expansion

• Center for Economic and Management Research

• Produces the “Oklahoma Business Bulletin” & expert economic analysis

• Office of Technology Development

• Patenting/Licensing & Protection of OU Intellectual Property

• Provides inventor resources & disclosures

• Office of Public/Private Partnership

• Provides Economic Development outreach to internal & external partners and serves as a liaison to local, state & federal economic development resources

• Marketing & recruitment to attract new partners to the University Research Campus, Max Westheimer Airport, OU Research Park & Tulsa campus

• Coordinates with Vice President of Research, Office of Real Estate and Office of Strategic Initiatives to manage relationships with OU Research Campus tenants

Primary Pillars to Support Economic Growth and Diversification

• Center for Entrepreneurship

• Center for Creation of Economic Wealth

• Business Plan Competition

• Sooner Launchpad Accelerator

• Support for the Innovation Hub

University Research Campus• Since opening in 2003, over

$300 Million invested• ~ 1 million sq.ft. of research,

partner & technology space • ~ 2,000 employed • 17 Private Sector companies

with recent additions – BFAC.com & CoreLogic

• Multiple Government & Academic partners

• Hosting the 2016 Association of University Research Parks (AURP) Conference

Norman Campus Research (by source) FY 2015

University Research Campus – Innovation Hub

10

• Nationally recognized Radar Innovations Laboratory-Advanced Radar Research Center opened in 2014

Leading in Radar & Weather Research

Radar Innovations Laboratory

Future Developments• Stephenson School of Biomedical Engineering –

coursework beginning in the Fall of 2016

• Focusing on 3 areas of existing strength – biomedical imagining, nanomedicine and neuroengineering

• Research labs for chemistry, biology & biomedical engineering, maker-space & design studio, lecture halls, and new Diversity and Inclusion student and staff space, and Stephenson BME administrative offices

• Construction of Gallogly Hall, located in the OU Engineering Quad near the intersection of Felgar & Jenkins scheduled to begin in 2016, opening in Fall 2018

Economic Impact • $2.191 Billion – Estimated Annual Impact on Wage & Salary Income

• $442.9 Million – Off-campus expenditures by students & visitors• $392.9 Million – Annual taxes associated with OU Economic

Activity• $278.7 Million – Sponsored Research Expenditures – Norman & OKC

• $131 Million – Construction expenditures (3 campuses)

• $2.798 Million – Royalty/license & patent reimbursement income generated

• $8.94 Economic impact on area income for every $1 in state legislative appropriations

Source: 2016 Community Impact Report