The University of Wisconsin is a world-class university, but we need to do a better job of assuring that it continues to be a world-class institution. We need to find a way to provide the additional funding that is necessary to attract and retain talented members
of the faculty, to educate our students, and to conduct ground-breaking research.
I believe we need to give the funding of higher education a higher priority, in part because the University is an engine for economic growth, both for the State as a whole, and for the Madison area. If we want to have a strong economy, we have to help the University increase the supply of college educated workers, and conduct the important research that will lead to the creation of new and better-paying jobs. In my view, this is the best prescription for creating more jobs, higher per capita incomes, and a broader tax base that will help to support the public services that benefit us all.
Academic research and development is already a $1.1 billion industry in our State. It is providing more than 38,000 jobs.
Companies that are located in the UW-Madison Research Park employ nearly 4,000 people with an average salary of about $62,000. That is nearly twice the average per capita income in the State of Wisconsin.
In this context, we need to keep in mind that Wisconsin lost 180,000 jobs during the current recession, including one-eighth of our manufacturing jobs, and one-fifth of our construction jobs. Many of the manufacturing jobs are not going to come back. If we are going to attract the investments that will be necessary to create new jobs, our State needs to create a larger pool of college graduates, with the qualifications that these new jobs will require.
The need for additional funding is evident in a number of
important financial trends. First, the State of Wisconsin used to provide funding for 46 percent of the University’s budget. However, during the past thirty years, the level of State support has been reduced to less than 24 percent of the money that the University spends.
Second, a recent report found that UW salaries are now between 8 and 24 percent lower than the salaries at peer universities, depending on the school and job title. This finding is consistent with the results of a number of earlier reports.
This competitive disparity has been exacerbated by the current recession and the desperate fiscal outlook of the State. The UW faculty and academic staff have been denied 2 percent raises that were previously approved. In addition, they have been placed on furloughs that have had the effect of cutting their existing pay by about 3 percent.
According to one report, Wisconsin now ranks 34th among the states in the per capita funding of higher education. We cannot remain competitive, and maintain a world class university, if we do not address and reverse these trends.