November 3, 2018
Steering Ole Miss to Greater Economic and Academic Gains
A lot has happened in the almost three years since Dr. Jeffrey Vitter took the helm as Chancellor of the University of Mississippi. Ole Miss is the Flagship University of the state, considered the best-known college in the state with the largest enrollment, just over 23,258. With an annual budget of $2.5 billion, it is also an economic powerhouse.
Recent accomplishments include:
- In fiscal 2018, external research funding on the Oxford campus was up twenty-three percent, and overall at the university it was up 8.5 percent to a total of $134 million.
- Total fundraising for the Oxford campus in 2018 was up almost 8 percent. Private donations across the university were nearly $117 million, the seventh year of more than $100 million, which helped the Ole Miss endowment climb to a record high of $715 million.
- About $1 billion in new construction has recently been completed, is underway or is planned.
- Ole Miss has been named the twelfth fastest-growing university in the country in the past decade.
- Economic development through entrepreneurship and technology commercialization continues to bear fruit. The nineteen-acre Insight Park is home to twenty-one companies, several based upon technology developed at the university.
- At the state's only academic medical center, the University of Mississippi Medical Center (UMMC), new space is being opened for clinical trials and translational medicine.
"It all comes down to our mission of transforming lives, communities and the world," Vitter says. "Within the system of higher education, flagship universities have special responsibilities to lead and serve their home state. Serving as Chancellor of the University of Mississippi is an awesome responsibility because of the opportunity we have to raise the standard of living for Mississippians through the power of education."
Under his leadership, Ole Miss has implemented the Flagship Forward strategic plan. "It is our roadmap of excellence," Vitter says. "We have created amazing programs, and the recognition we are getting is very rewarding."
The University of Mississippi has earned the Carnegie R1 Highest Research Activity designation, held by only the top 2.5 percent of colleges and universities nationwide. Vitter said that such a designation means that the university excels in innovative research, and what is particularly exciting is when those innovations can be further developed into practical technologies, treatments, or cures.
"Effective treatments and cures are what our world desperately needs, and we are leading the way in research on the diseases like Alzheimer's and diabetes that impact Mississippians most," Vitter says.
In addition to the main campus, Ole Miss has satellite campuses in DeSoto, Tupelo, Booneville, and Grenada. Recent lean budget times for Mississippi have resulted in cuts to higher education. For Ole Miss only one out of every $8 in operating revenue comes from state appropriations. Vitter says that Ole Miss works hard to ensure access and affordability, particularly for Mississippi students.
"The positive approach is that our university has been entrepreneurial," Vitter says. "We understand the state has had revenue shortages, and we appreciate the strong support of legislators and statewide leaders who value higher education, but they don't have the revenues to fully support it. We have been proactive in raising other forms of revenues, for example, attracting out-of-state students who subsidize the education of in-state students."
"In today's world, the grand challenges we face are highly multidisciplinary," Vitter says. "No one discipline has all the answers. We need a collaborative approach from across many fields."
"I feel blessed to have grown up in a family that was very close and loving," he said. "My parents were my role models. Both were tremendously strong advocates of higher education. They instilled in my siblings and myself a real appreciation and passion for higher education."
Source: Delta Business Journal