strategic Signature Initiatives
Advance economic development through the Marshall
Institute for Interdisciplinary Research and other initiatives
Example of Advanced Economic Development
Marshall Institute for Interdisciplinary Research
charter for MIIR is designed to develop a research enterprise predicated on an earning and
entrepreneurial culture. As such, the Institute charter stipulates that:
Appointments of research professors will be exclusively within the Institute
(a subsidiary 501.c.3. of MU) – no appointments in traditional academic
appointment contracts will be used in lieu of tenure eligibility
renewals/extensions will be performance based
endowed research professors will be required to generate 50% of their
compensation from externally funded grants/contracts within 5 years and each
professors will generate intellectual property (IP) that has commercial
professors will be responsible for involving undergraduate and graduate
students actively in biotechnology research with the goal of preparing the
next generation of entrepreneurial researchers
An economic impact study of this plan has been completed
by Marshall University’s Center for Business and Economic Research (CBER).
This center is recognized throughout the state for its reliable and high
quality work. The results of their comprehensive analysis are highlighted in
the bulleted sections that follow. The time horizon generally comprises the
first two decades following plan implementation. Impact projections neither
include royalty nor equity revenues from IP ventures.
for local residents, increased demand for and retention of educated workers
and increased employment throughout the state)
direct employment growth from MIIR is 75 positions, all supported either
from endowment earnings or external grants/contracts. Demand created by
income and investment in equipment/supplies supporting these positions will
add an additional 39 first year jobs.
Over a 20
year period, total employment is expected to increase by 3,365 as a result
of the initial investment in MIIR (employment of 231 people in MIIR creates
a total additional direct employment of 1,984 people, indirect employment of
641 and induced employment of 509 new workers).
million in increased tax revenues with a payback period of 8.5 years
By year 5
the State will receive an estimated $2 million annually in additional tax
revenues increase to $5.3 million annually in year 10 with a total of $137
million over the first 20 years.
for state’s portion of the endowment investment in MIIR is estimated at 8.5
Increase in total in-State spending of $284 million
noted in the full proposal, funding for the Institute will be established
through en endowment fund created from a combination of ONE-TIME state and
private funds to be raised by Marshall. The endowment total required for the
start-up of the Institute is $36 million. Once this endowment is fully
funded, the Institute will become self-sustaining and self-generating.
for State (public) funding submitted
private donor support for this initiative has been initiated.
Advanced Economic Development Forum Membership: