Location, Location, Location
In the real estate industry, the mantra of “location, location, location” rules the day, and I believe the same holds true in higher education. Of course, not all college towns are built the same; each caters to a different identity. Colleges and universities adapt to their surrounding communities. I am thankful that our university had its own kind of special soil in which to put down roots, grow and blossom.
We like to think that our university is different – just as every institution makes that same claim. But our location in a city unlike so many others does give us an air of real distinction. Whether it is the salt-air breezes, nearby beaches, award-winning restaurants, world-famous shopping or many historical and cultural places dotting the landscape, Charleston is a unique location in our country.
WalletHub, in its review of 400 U.S. college towns, included Charleston in its top 10 Southern towns and No. 19 overall, just between Madison, Wis., and New Haven, Conn. (homes to a flagship university and Ivy, respectively). For their rankings, the editors at WalletHub zeroed in on cost of living, balanced against good academic and work opportunities. While we might have a spirited debate on affordability, especially for those who want to live downtown, near campus, the city of Charleston is experiencing a remarkable period of growth, development and revitalization.
And our students and graduates are the direct beneficiaries of that economic boom. In fact, it is a virtuous cycle, with our graduates meeting the workforce needs for a wide range of industries, which allows those companies to make even greater investment throughout the Lowcountry. In engineering terms, we call that a positive feedback loop, in which an initial effect reinforces itself and strengthens the overall process. It’s like a turbocharger in an internal combustion engine, in which each part amplifies the next.
Right now, we are certainly in a turbocharging moment for both our city and our university. And it is incumbent on us to take full advantage of our moment so that we are both positioned for sustained success. Because together, we can – and we will – do even greater things.