In the first of many steps to develop Wisconsin’s overall biennial budget, the University of Wisconsin System Board of Regents unanimously approved a three-part plan aimed at fostering growth in the state’s economy and talent Aug. 21.
The “Talent Development Initiative” plan outlined three areas for the body and state to be more successful: the talent path, the talent infrastructure and the talent-based economy.
“We have a talent gap in Wisconsin and it’s holding back our economy,” UW System President Raymond Cross said. “To grow, our economy badly needs more high-impact talent.”
Cross cited the lack of Science, Technology, Engineering and Mathematics courses available at UW-Madison as one issue with the current talent-fostering infrastructure and said more work can be done with K-12 partnerships to prepare students for a better higher education path.
Expansions of the UW Flexible Option and online programs are also incorporated into the plan.
“It’s a vision that capitalizes on the UW System’s power and potential to provide transformative change—change that improves the social and economic well-being of our state, and in the process elevates Wisconsin’s influence around the globe,” Cross said.
The proposal outlines $42.3 million in UW funds and $95.2 million in new state funds for the system improvement.
While Cross said the plan aims to improve the system, he added it will also benefit the state of Wisconsin overall.
“It is no longer enough to be organized as a system of universities; we must also perform as a system, leveraging the collective power of our universities in ways that significantly add value and produce results for all of our stakeholders,” Cross said. “I believe we must adapt. We must change.”
Cross said the proposal was created with input from UW leaders, chancellors, students and Wisconsinites.
“The Board wants the UW System to leverage all of its resources and leadership to improve Wisconsin’s economy and its quality of life,” Board of Regents President Michael Falbo said. “This plan will launch that effort in a more targeted and systematic manner.”
With the board’s approval, the plan will be sent to Gov. Scott Walker for consideration during his budget creation process.
