Although there are many examples of the role that universities might play in fostering regional economic development, this article considers a counterfactual case. The presence of a prominent research university provides no guarantee that an area's economic development potential is enhanced....

State initiatives that build innovation capacity by supporting local academic research, attracting eminent scholars, and building research excellence have become prominent among the 50 states over the past 30 years. This article focuses on three programs: University Research Grants, Eminent...