There was a time in history when colleges and universities were not considered assets for any community. There was great tension between the two camps known as "town and gown." During the Middle Ages, academics were both persecuted by "townies" and guilty of taunting "townies" to the point where the townspeople were ready to take matters into their own hands to control the snobbish academics and to re-assert their dominance over these haughty scholars. Academic "eggheads" loved to walk the streets wearing their colorfully resplendent academic regalia. They would strut down the streets snubbing their noses at the plain working class citizens who labored under conditions not desirable by any standards of decency.

The physical threats to the academics became so intimidating that scholars tended to walk in pairs if not groups. In time they began to carry clubs to protect themselves from overzealous townspeople. To this day most formal academic processions are led by a distinguished professor, honored by colleagues who elect the professor as the college marshall. That marshall walks in front of the formal academic procession carrying the college mace, a proud symbol that the institution's faculty is preparing to enter the academic hall or gathering place. The academic or college mace has been with us far longer than the small sprayer capsule many people carry in purses and pockets for protection from would-be intruders.

Today, academics are not necessarily looked upon as dreaded intruders into community life. Indeed, academics today are often considered important members of the economic development efforts of any community. Having had a career in business in addition to my work in higher education, I am often asked to compare the two fields. I enjoy saying that in business, the competition is so severe that it is proper to describe it as dog-eat-dog. Then I quickly add but in higher education, it is just the opposite: "dog-eat-dog."

Across the state of North Carolina we see significant economic and commercial developments growing up as a result of the presence of colleges and universities. The Research Triangle led the way in this state as the research and development resources of colleges and universities in the Raleigh-Durham-Chapel Hill area resulted in significant technological growth in that area. Similar economic development has taken place in Mecklenburg County in the area known as University Park surrounding the University of North Carolina in Charlotte.

Last year the business leaders of Greensboro came together to provide in access of $200,000 to support the campaign to approve a $200 million bond referendum for Guilford County public schools. Again last year, the North Carolina legislature proposed a $3.1 billion bond issue for member campuses of the University of North Carolina and the community college system. In support of this ambitious undertaking, the Greensboro Development Corporation provided $235,000.

The strong relationship between town and gown is periodically underscored as economic and business professors from the University of North Carolina in Greensboro are called in by the Greensboro Area Chamber of Commerce to give economic forecasts and interpret business trends and expectations. At one time higher education institutions were considered as cultural adornments at best. Today they are seen as critical to economic development.

Colleges and universities have the intellectual resources, technology and research capability to positively influence economic development efforts. Research is the engine that drives the marketplace, especially in high tech areas. Venture capitalists do not shop if there are no ideas. So many of the new ideas are stimulated by college and university faculty, staff and students. For example, in Winston-Salem it is projected that 80% of marketable research in the area is done by Wake Forest University.

Our colleges and universities have the personnel to conduct research, administer surveys and staff telephone banks. Language departments on the campuses of our colleges and universities teach not only the fundamentals of the language but also the cultural aspects of the language. It is not enough just to be able to speak the words. A successful international businessperson must also understand the cultures, practices and mores of the international community. Support for small businesses, research and marketing contracts, and basic civic responsibilities are all part of the contributions that colleges and universities bring to the community. Today, what is good for the city is good for the academy; and what is good for the academy is good for the city.