Penn State University’s Hosts Its President’s Discussion On Economic Development With Centre County Business Community

Penn State President Neeli Bendapudi discussed Penn State’s economic impact in Centre County and across Pennsylvania, and the importance of the University’s partnerships with the state’s business communities, during a Chamber of Business and Industry of Centre County (CBICC) luncheon on Thursday, Jan. 26.

Bendapudi shared her thoughts and vision for Penn State’s role in economic and workforce development, both at a statewide and local level. The event was conducted in a question-and-answer format with CBICC President and CEO Greg Scott serving as moderator.

Bendapudi talked about Penn State as a vital contributor to Pennsylvania’s economy, noting the University’s total $11.6 billion economic contribution; the 105,000 jobs it directly and indirectly supports across the commonwealth; its record $1 billion in research expenditures in the past year; and the more than 390,000 Penn State alumni who live and work in Pennsylvania.

“What is good for Pennsylvania is good for Penn State; what’s good for Penn State is good for Pennsylvania,” she told the crowd, emphasizing the University’s commitment to positively impacting the commonwealth through its land-grant mission.

During the discussion, which was attended by about 200 local businesses and public officials, Bendapudi emphasized Penn State’s desire to build partnerships with the local business community, particularly to meet workforce needs, encourage growth, and attract new businesses to the area.

“You are the job-creators. You volunteer. You show up. You matter — thank you,” Bendapudi said.

By leveraging Penn State’s existing research strengths, intellectual capital and talented faculty, staff and students, Bendapudi said the University is a willing partner in helping local businesses and business owners to thrive, while also making Centre County a place where new businesses want to locate. Bendapudi commended Scott and CBICC leadership for efforts to pursue “smart growth,” which focuses on directing resources to high-impact opportunities.

As part of that partnership, Bendapudi encouraged local businesses across Pennsylvania to tap into the talents of Penn State students through internships. Specifically, she reminded business owners to consider first-generation students, and those from low-income backgrounds, for opportunities. Penn State’s students are highly sought after by employers — she referenced a 2019 survey in which corporate recruiters ranked Penn State fifth in the nation, tied with MIT, in its education and preparation of graduates for success in the workplace. She said internships offer a win-win for both students and businesses, as they provide students with vital work experiences in the short term while also giving them a window into the long-term employment opportunities that are available in the Centre Region and across the state.

“This is an amazing community, and my family and I have felt so welcomed,” said Bendapudi, who moved with her family to State College last year. “Penn State is a remarkable institution, and State College is an impressive place. People either want to stay, or when they leave, they want to return. It’s important for us to partner so people can work, live and play here — it is a beautiful place. We have a strong foundation upon which to build, and highly talented individuals across the community.”

In line with her commitment to both student success and the economic success of the commonwealth, Bendapudi talked about the need to align Penn State’s academic offerings to the needs of the state’s economy, so students remain highly employable and career-ready.

Continued growth in the University’s state funding is critical to Penn State’s efforts to remain on the leading edge of career trends, she said, as is offering an accessible and affordable education that is attractive to the state’s best and brightest students. Having a talented and well-educated workforce is key to the state’s long-term economic outlook, she noted, and is central to drawing new businesses to Pennsylvania.