TAILIEUCHUNG - The Role of Higher Education in Economic Development

The evidence does suggest that high-income households take tax increases into account in decisions about the timing of income and the form in which they receive income. For example, research on capital gains demonstrates that people may plan when they sell an asset if a pending law change will affect their taxes on income from the sale. Similarly, changes in the difference in tax rates between household and corporate income have been shown to produce shifts in the type of compensation taken by corporate executives and business owners | Rock River Region The Role of Higher Education in Economic Development Higher Education Alliance for the Rock River Region Contributors Northern Illinois University Rockford College Rock Valley College University of Illinois College of Medicine at Rockford Prepared by NIU Outreach May 2005 The Role of Higher Education in Economic Development Executive Summary Rock River Region The HEARRR members - Northern Illinois University Rockford College Rock Valley College and the University of Illinois College of Medicine - have allocated fiscal physical and human resources and created entrepreneurship systems to advance economic development. Major Trends in the Rock River Region This area is undergoing demographic and industry changes that impact its economic development and that relate directly to education. Population is projected to increase 9 percent from 2000 to 2010 with increasing populations for those of Hispanic heritage and for those aged 55 to 64. Severe downsizing in the manufacturing sector meant the loss of 10 000 jobs. Jobs in manufacturing and other areas now typically require post-secondary education. Health services construction and logistics have strong growth projections and offer high compensation per employee. Ten Ways HEARRR Strengthens the Regional Economy 1. Raising educational levels to create a quality workforce by enrolling 18 000 students annually in 64 certificate programs 5 apprenticeship programs 25 associate degree programs 80 bachelor s degree programs 11 master s degree programs 4 advanced nursing degrees a doctor of medicine degree and a post-doctoral certificate in medicine 2. Improving learning and teaching from pre-school through graduate school through working with the public schools and by securing over 10 million in competitive grants. 3. Training and supporting - where you need it when you need it - over 1 000 businesses and 4 000 employees each year and through programs such as the Rock River Entrepreneurship Center Network Small

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