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NJ Colleges Use Research and Technology to Improve Economy

The majority of students consider college after high school without a second thought, recognizing the many benefits a bachelor’s degree can provide them with. But one element of higher education institutions is often neglected, however: The role they play in the community and the nation’s economy. A number of institutions throughout the state of New Jersey utilize research and technology in ways that greatly impact the state’s economy.
For this episode of Caucus: New Jersey with Steve Adubato, show host Steve Aduabto, PhD., sat down with four leading New Jersey research institutions to discuss the impact of research and technology on quality-of-life issues. The gentlemen also discussed the importance of bringing jobs to their neighborhoods, bringing the pharmaceutical industry back to New Jersey, the importance of incubator businesses, the merits of technology and the societal impact of these changes.

The segment’s guests include President of Rowan University, Ali A. Houshmand, PhD.; President of the New Jersey Institute of Technology, Joel Bloom, EdD.; Senior Vice President of the Office of Research and Economic Development at Rutgers University, Christopher J. Molloy; and President of the Stevens Institute of Technology, Nariman Farvardin, PhD.
This video was made possible thanks to the Office of the Insurance Fraud Prosecutor.

Colleges and universities in the state play a major role outside of the classrooms. In fact, the relationship between higher education institutions and the business and industry communities has been changing in recent years.
“The early relationship was about the workforce,” said Bloom. “In the State of New Jersey, the science, technology and engineering workforce is critical… So the first reason that many of [the institutions] were created was to help create the workforce for the industry all the way back in the 1800s.
“What’s changed today,” he added, “is the relationship between research & development and industry.”
Bloom went on to describe the decline of American research and scientific development facilities before asking, “So where is business and industry going, and what’s the role of the academy of academic institutions in business and industry?”
To hear more about what these higher education professionals have to say about the importance of research and development, technology, creating jobs and more, check out this episode of Caucus: New Jersey with Steve Adubato.
For more stories that impact New Jersey residents, click over to our Hot Topics in NJ series.

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