U, business enhance relationship
When the University of Minnesota Board of Regents met in Red Wing last week to develop the board’s priorities for the next year, we visited Red Wing Shoe – one of the state’s most recognizable and successful businesses.
Our visit reminded us of what the state’s economy and Minnesota’s communities need: critical thinkers, problem solvers and leaders, as well as research-driven discoveries and innovations that will shape 21st-century industry.
U alumni have already formed nearly 10,000 companies in Minnesota, employing 500,000 people and generating $10 billion in revenue. Those numbers are sure to rise.
Communities such as Red Wing are Minnesota’s lifeblood thanks to the leadership of business leaders like Red Wing Shoe CEO David Murphy. We owe it to Mr. Murphy and all Minnesotans to do the most good with the U’s resources — and we are well on our way. The U’s current budget is on track to exceed the legislative request of $15 million in cuts to administrative costs, demonstrating our commitment to working smarter, reducing costs and enhancing education.
Our visit was another step to enhance the U’s relationship with Minnesota businesses. We look forward to partnering to shape our state’s success for the future.
Richard Beeson chairs the University of Minnesota Board of Regents.