Innovation & Economic Prosperity Designation

In 2022, the Association of Public and Land-Grant Universities (APLU) designated Towson University as an Innovation and Economic Prosperity (IEP) University. TU is one of 90 higher education institutions in the nation to earn the designation which recognizes universities that are leaders in economic and community engagement through:

• Talent and workforce development
• Innovation, entrepreneurship, and technology-based economic development
• Place development via public service, outreach, and community engagement

To obtain the designation, universities undergo a self-study so they can discover new ways to better know, measure, and tell the story of their economic and community engagement. TU’s Regional Economic Studies Institute conducted the self-study which included an internal review and analysis of our economic engagement activities, as well as a review from external stakeholders. The study showed that economic engagement occurs throughout every college and division, and especially through these channels:

• Student success, including undergraduate and graduate programs, extracurricular and wraparound support, and learning opportunities for non-degree-seeking community members;
• Applied research, internship and clinical placements, and experiential learning for students;
• Business engagement and entrepreneurship, through StarTUp at the Armory, as well as curricular opportunities open to students; and
• Anchor strategy and community engagement, including BTU and place-based endeavors.

TU’s Economic Impact

Towson University has an estimated $2.1 billion in annual economic impact on Maryland’s economy and supports over 7,500 jobs and $746 million in employee compensation. In 2022, the StarTUp at the Armory, Towson University’s business engagement center, received the Engaged University Award from the University Economic Development Association (UEDA), which recognizes universities that engage multiple community partners to leverage and connect efforts in talent development, innovation and community development. And in 2023, the Maryland Department of Commerce recognized TU’s commitment to economic growth and development and announced that a new Regional Institution Strategic Enterprise Zone (RISE Zone) was approved next to TU’s campus to spur economic development and job creation by allowing certain businesses within the zone to benefit from rental assistance and enhanced investment incentive tax credits.