Published: February 20, 2006 Section: BUSINESS INSIDER Page#: 8D

Carlson business school returns on investment

At the University of Minnesota's Carlson School of Management, one of the first concepts our students learn is "return on investment," or ROI. While we usually talk about it in relation to the business world, it has application in measuring the performance of the state's investments as well. Take, for instance, two key ROI figures about the Carlson School. The first is 110,000. That's the number of Minnesotans our graduates employ in the many businesses they have founded here. That's more people than the entire population of Wright County, or the populations of many sizeable Minnesota cities, such as Rochester or Duluth. The other number is $21 billion. That's the annual revenue that our alumni-owned businesses pump into the state's economy each year - a figure on par with the size of Minnesota's entire manufacturing sector. One might expect a business school to be focused on numbers, but in reality, it is the people behind those figures that are important. Our graduates go on to become community and business leaders, like the late Gov. Elmer Andersen, who was also the former chairman of H.B. Fuller; and Winston Wallin, the former CEO of Medtronic Inc. They have an incredible impact on our state's current economy and on Minnesota's future fiscal health. So it concerns me that demand for our highly ranked undergraduate program far exceeds our physical capacity and that we are forced to turn away some of the state's best and brightest. Demand from students and from the business community is so strong that we can serve only 12 percent of those who apply. And we know that 42 percent of those who are not admitted leave the state altogether for school. Expanding our undergraduate program and facilities will help us meet demand and keep more of our future leaders right here in Minnesota. We have requested $26.6 million in this year's bonding bill for a facility that will serve 50 percent more students by 2008. Gov. Tim Pawlenty has signaled his strong support for our case by fully funding our request in his bonding recommendations, and it is critical that the Legislature respond in kind. State support allows us to deliver one of the best business-school educations in the country at a public-school price, thereby serving a wider cross-section of Minnesota's future leaders. About 73 percent of our students receive financial aid - the highest rate on campus. Quality will always remain our central focus. But what makes the Carlson School a unique state asset is its attendant goals of accessibility and affordability - two missions made possible by state support and two missions that enable us to serve more students who can deliver a phenomenal return on investment for Minnesota. . James R. Campbell Interim dean Carlson School of Management University of Minnesota