Higher education and the public, private and non-profit sectors: Equal partners in promoting regional economic development

Institutions of higher education throughout the world are increasingly aware of the importance of working more systematically and productively with community and business leaders in order to create better local economies and, ultimately, better societies. This article presents an overview of how colleges and universities can assist with the identification and implementation of specific strategies for enhancing the economic development of the regions in which they are located. Also included is a discussion of the emerging advantages associated with developing these kinds of collaborative partnerships, as well as a brief overview of the major approaches to regional economic development.