{"id":373062,"date":"2019-04-08T14:21:58","date_gmt":"2019-04-08T18:21:58","guid":{"rendered":"http:\/\/www.rochester.edu\/newscenter\/?p=373062"},"modified":"2021-04-16T13:55:53","modified_gmt":"2021-04-16T17:55:53","slug":"rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062","status":"publish","type":"post","link":"https:\/\/www.rochester.edu\/newscenter\/rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062\/","title":{"rendered":"Rochester can become US growth engine, says MIT economist"},"content":{"rendered":"<p>The City of Rochester has what it takes to become a major driver of national economic growth. That\u2019s according to <a href=\"https:\/\/economics.mit.edu\/faculty\/gruberj\/short\">Jon Gruber, <\/a>the Ford Professor of Economics at the Massachusetts Institute of Technology and co-author of\u00a0the new book <a href=\"https:\/\/www.hachettebookgroup.com\/titles\/jonathan-gruber\/jump-starting-america\/9781541762503\/\"><em>Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the American Dream<\/em><\/a>\u00a0(Hachette Book Group, 2019).<\/p>\n<p>The MIT economist will be at the URochester on April 17 to speak about Rochester\u2019s potential.<\/p>\n<p>&#8220;Gruber\u2019s latest book details all the \u2018ingredients\u2019 necessary to drive economic growth based upon cities ripe to become technology hubs. Of the factors that he considered, Rochester came out on top among more than 100 cities,\u201d says University Provost <a href=\"https:\/\/www.rochester.edu\/newscenter\/robert-clark-named-10th-provost-at-university-of-rochester\/\">Robert Clark<\/a>. \u201cWe are pleased to have Jon launch his book here in Rochester.\u201d<\/p>\n<p>Right now the US economy is growing slowly, and economic opportunities are concentrated in a few cities on the country\u2019s coasts. But that could change, says Gruber:<\/p>\n<p>\u201cRochester has a large and highly educated workforce, a\u00a0fantastic University base, and a high quality of life, making it an\u00a0ideal candidate to become a next-generation technology hub.\u201d<\/p>\n<p>Gruber, an expert on the economics of health care, served as a technical consultant for the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Patient_Protection_and_Affordable_Care_Act\">Patient Protection and Affordable Care Act<\/a>\u2014commonly referred to as Obamacare\u2014and was a key architect of Massachusetts\u2019 health reform effort under then-Governor Mitt Romney.<\/p>\n<div class=\"side-right\">\n<h3><strong>Jump-Starting Rochester<\/strong><\/h3>\n<p>A panel discussion with MIT professor Jon Gruber<\/p>\n<ul>\n<li>Staci Henning of the <a href=\"https:\/\/www.rochesterbiz.com\/\">Greater Rochester Enterprise<\/a><\/li>\n<li>Robert Duffy of the <a href=\"https:\/\/greaterrochesterchamber.com\/\">Greater Rochester Chamber of Commerce<\/a><\/li>\n<li>James Senall of <a href=\"https:\/\/nextcorps.org\/\">Nextcorps<\/a><\/li>\n<\/ul>\n<p><strong>April 17<\/strong><br \/>\nHawkins-Carlson Room at the University\u2019s Rush Rhees Library on the River Campus<br \/>\n6:30 p.m. to 7:30 pm<\/p>\n<p>Followed by a book signing by Gruber.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-373432\" src=\"https:\/\/www.rochester.edu\/newscenter\/wp-content\/uploads\/2019\/04\/jump-starting-rochester.jpg\" alt=\"illustration of city skyline with the text JUMP STARTING ROCHESTER\" width=\"550\" height=\"300\" \/><\/p>\n<\/div>\n<p>Gruber will first speak and then participate in a panel discussion about Rochester\u2019s economic potential. He is joined by Staci Henning, the executive vice president and chief marketing officer of the <a href=\"https:\/\/www.rochesterbiz.com\/\">Greater Rochester Enterprise<\/a>, Robert Duffy, the president of the <a href=\"https:\/\/greaterrochesterchamber.com\/\">Greater Rochester Chamber of Commerce<\/a>, and James Senall, president of <a href=\"https:\/\/nextcorps.org\/\">Nextcorps.<\/a><\/p>\n<p>Once a beacon of optical manufacturing with world-renown companies such as <a href=\"https:\/\/en.wikipedia.org\/wiki\/Kodak\">Eastman Kodak<\/a>, <a href=\"https:\/\/en.wikipedia.org\/wiki\/Xerox\">Xerox<\/a>, and <a href=\"https:\/\/en.wikipedia.org\/wiki\/Bausch_%26_Lomb\">Bausch + Lomb,<\/a> Rochester has seen a sharp economic decline since the late 1980s and nineties when these companies shed thousands of jobs.<\/p>\n<p>Kodak, which at the height of its economic prowess employed 62,000 people in the area\u2014accounting for half of the area\u2019s economic activity\u2014had become a way of life, heavily involved in all aspects of the City\u2014from sponsoring sports leagues to being Rochester\u2019s main patron of the arts. In 2012, Kodak declared bankruptcy. Today, just a shell of its former self, Kodak has around 1,500 employees in the area.<\/p>\n<p>Instead, the University has become Rochester\u2019s largest employer (with the substantial financial support of Kodak\u2019s late founder George Eastman) with its network of local hospitals in addition to its three academic campuses\u2014the Eastman School of Music, the School of Medicine and Dentistry, and the River Campus.<\/p>\n<p>In the new book, Gruber and his coauthor, <a href=\"https:\/\/www.hachettebookgroup.com\/contributor\/simon-johnson\/\">Simon Johnson<\/a>, the Kurtz Professor of Entrepreneurship at MIT and a former chief economist to the International Monetary Fund (IMF), argue that a return to broader prosperity in the US should begin with a lesson from the past. Over the two decades after World War II, the federal government invested massively in science and technology, resulting not only in the inventions that changed Americans\u2019 lives, but a broad and highly paid middle class, they note. Without this kind of significant public investment, private enterprise will not build the scientific foundation needed for the cutting edge industries and good jobs of tomorrow.<\/p>\n<p>Together <a href=\"https:\/\/www.jump-startingamerica.com\">the authors lay out a plan for developing a new American growth engine<\/a>, identifying 102 urban communities that are plausible next generation tech hubs, all with large\u00a0populations, highly educated workforces, and a low cost of living. Rochester tops that list.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In his latest book, Jon Gruber puts Rochester at the top of the list of 102 cities poised to become next generation tech hubs. The MIT economist will host a panel discussion on Rochester\u2019s potential to jump-start America. <\/p>\n","protected":false},"author":942,"featured_media":273472,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[456],"tags":[9436,8916,14,18622],"class_list":["post-373062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-society-culture","tag-community","tag-economy","tag-events","tag-robert-clark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rochester can become US growth engine, says MIT economist<\/title>\n<meta name=\"description\" content=\"In his latest book, Jon Gruber puts Rochester at the top of the list of 102 cities poised to become next generation tech hubs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rochester.edu\/newscenter\/rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rochester can become US growth engine, says MIT economist\" \/>\n<meta property=\"og:description\" content=\"In his latest book, Jon Gruber puts Rochester at the top of the list of 102 cities poised to become next generation tech hubs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rochester.edu\/newscenter\/rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062\/\" \/>\n<meta property=\"og:site_name\" content=\"News Center\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-08T18:21:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-16T17:55:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rochester.edu\/newscenter\/wp-content\/uploads\/2017\/10\/2016-05-06_Rush_Rhees_Library_002_1000x600.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sandra Knispel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sandra Knispel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/newscenter\\\/rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/newscenter\\\/rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062\\\/\"},\"author\":{\"name\":\"Sandra Knispel\",\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/newscenter\\\/#\\\/schema\\\/person\\\/48a5dd20d1ade85ff52a0babb9a550a5\"},\"headline\":\"Rochester can become US growth engine, says MIT economist\",\"datePublished\":\"2019-04-08T18:21:58+00:00\",\"dateModified\":\"2021-04-16T17:55:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/newscenter\\\/rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062\\\/\"},\"wordCount\":646,\"image\":{\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/newscenter\\\/rochester-can-become-us-growth-engine-says-mit-economist-jonathan-gruber-373062\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rochester.edu\\\/newscenter\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/2016-05-06_Rush_Rhees_Library_002_1000x600.jpg\",\"keywords\":[\"community\",\"economy\",\"events\",\"Robert Clark\"],\"articleSection\":[\"Society &amp; 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