APLU, in partnership with the Association of American Universities (AAU), has published a report for universities that are studying and communicating about how they contribute to economic development and advancing their economic engagement.
The Economic Impact Guidelines can be helpful to institutions that are planning to undertake an economic impact study, providing expert help for such an undertaking. Even for institutions not planning a study, however, the Guidelines can help identify the kinds of impact the university is having, and consider ways to best measure these impacts. The Economic Impact Guidelines provide a variety of ideas about how best to tell a university’s economic engagement story. The publication focuses on how the university defines and communicates about impact—whether through a traditional input/output economic impact study, or a variety of other ways to highlight impact.
The Economic Impact Guidelines publication is the latest tool available as part of the Economic Engagement Framework developed by APLU’s Commission on Innovation, Competitiveness, and Economic Prosperity (CICEP). The Economic Engagement Framework helps university leaders: 1) KNOW what they’re doing well and what they need to improve with regard to economic engagement; 2) MEASURE the extent to which they are engaged; 3) TELL the story of their contributions to economic development, and 4) ENGAGE with external stakeholders throughout in order for their contributions to have meaningful impact.