PSU launches new strategic plan, touts $1.8 billion regional economic impact

On Friday, the Portland State University Board of Trustees voted to approve a new strategic plan for Oregon's urban research university that will guide the institution through 2030 and aims to deliver on institutional priorities including improved service to students, employees and the Portland region.

PSU also released an Economic & Social Impact Study detailing the university's economic contribution to the Portland Metro Area, which exceeded $1.8 billion in Fiscal Year 2023. PSU supports 11,274 jobs and generates $714 million in labor outcome, as well as contributing $253 million in tax revenues, nearly $94 million of which benefits Oregon state and local governments. The report found that 81% of PSU bachelor's degree graduates are employed in Oregon one year post-graduation, compared to 71% across all Oregon public institutions.

The report, prepared by the Northwest Economic Research Center in the College of Urban and Public Affairs, also highlights the university's research expenditures which reached $92.5 million - a significant increase from previous years. PSU's research initiatives center community engagement and address issues facing society including homelessness, sustainability, transportation, resilience, climate change, mental health and wellness and community development.

"Portland State plays a vitally important role in our state's higher education ecosystem. We serve the most diverse student population and funnel our brain power and our resources toward solving some of the most entrenched and complicated issues facing our city," said PSU President Ann Cudd. "We also improve the lives of many thousands of Oregonians and their families - our alumni are Oregon's entrepreneurs, civic leaders, teachers, employees, parents and neighbors."

PSU's new strategic plan lays out four strategic imperatives, including:

• To create clear pathways for the region's learners to achieve their educational goals and provide a strong return on investment.
• To lead the Pacific Northwest in serving minoritized students and boosting the college success rate.
• To support and empower our employees and operations.
• To drive Portland's economic, social and cultural resurgence.

"I'm excited to have a plan that will serve as a roadmap for our future in focus in the coming years at PSU," said Benjamin Berry, chair of the PSU Board of Trustees.

The strategic plan was developed over the course of more than 50 meetings and engagement events and utilized a collaborative approach between 46 leaders from across the PSU community and four work groups that included subject matter experts and equity ambassadors.

"In the coming years, PSU will be intensely focused on how we serve our students and our community in the highest and best way," Cudd said. "We will double down on our most effective student success strategies, nurture the conditions for widespread well-being on our campus and expand on our contributions to our city, our region and our state that promote thriving for all. We envision a bright future for Portland where our campus is a hub for education, innovation and culture. And we will continue to instill confidence in our graduates that they can achieve their dreams."