Citation

Financial innovation: The Iowa community college case study

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Abstract:

This presentation documents the state of Iowa’s response to the agricultural recession of the 1980s to demonstrate the role that community colleges can play in creating a diversified economy and the skilled workforce to support these new employers. This case-study describes the economic and political conditions, and the process by which Iowa’s community colleges were enabled to deliver on their emerging economic development mission. General obligation bonds provide the community colleges and their region with an ongoing capability to develop a quality workforce necessary for the growth and diversification of the state’s economy. The application of Iowa’s community college use of the sale of general obligation bonds as a model for other states and countries is discussed. As a result, Iowa’s community colleges developed into regional economic and workforce development intermediaries, stepping up regionally as the lead organization in serving both the skill needs of employers and the career needs of workers. As intermediaries, throughout their communities, community colleges began to align the economic and workforce development needs that had direct connection to regional growth strategies. These are the same principles that are being used today throughout community colleges in the United States and their global counterparts throughout the world. Two key features that will be highlighted in the presentation describe the major contributors to this development: the sustained nature of the funding, and the allowance of an administrative fee to the community college.

Author's Keywords:

workforce development, community college
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Association:
Name: 55th Annual Conference of the Comparative and International Education Society
URL:
http://www.cies.us


Citation:
URL: http://citation.allacademic.com/meta/p492846_index.html
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MLA Citation:

Friedel, Janice. "Financial innovation: The Iowa community college case study" Paper presented at the annual meeting of the 55th Annual Conference of the Comparative and International Education Society, Fairmont Le Reine Elizabeth, Montreal, Quebec, Canada, <Not Available>. 2014-11-26 <http://citation.allacademic.com/meta/p492846_index.html>

APA Citation:

Friedel, J. "Financial innovation: The Iowa community college case study" Paper presented at the annual meeting of the 55th Annual Conference of the Comparative and International Education Society, Fairmont Le Reine Elizabeth, Montreal, Quebec, Canada <Not Available>. 2014-11-26 from http://citation.allacademic.com/meta/p492846_index.html

Publication Type: Panel Paper
Abstract: This presentation documents the state of Iowa’s response to the agricultural recession of the 1980s to demonstrate the role that community colleges can play in creating a diversified economy and the skilled workforce to support these new employers. This case-study describes the economic and political conditions, and the process by which Iowa’s community colleges were enabled to deliver on their emerging economic development mission. General obligation bonds provide the community colleges and their region with an ongoing capability to develop a quality workforce necessary for the growth and diversification of the state’s economy. The application of Iowa’s community college use of the sale of general obligation bonds as a model for other states and countries is discussed. As a result, Iowa’s community colleges developed into regional economic and workforce development intermediaries, stepping up regionally as the lead organization in serving both the skill needs of employers and the career needs of workers. As intermediaries, throughout their communities, community colleges began to align the economic and workforce development needs that had direct connection to regional growth strategies. These are the same principles that are being used today throughout community colleges in the United States and their global counterparts throughout the world. Two key features that will be highlighted in the presentation describe the major contributors to this development: the sustained nature of the funding, and the allowance of an administrative fee to the community college.


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