FAYETTEVILLE, Ark. – Chancellor Joe Steinmetz delivered his second State of the University address to campus Thursday, Oct. 4, with his prime focus on current progress and goals for the future.

He set the tone for his message early, saying “there is absolutely no other place like the U of A and no other place that I would like to be.”

The chancellor began by reviewing recent increases in support for faculty, staff and students. He pointed out that with $13.3 million of new revenue this year the largest amount, 44 percent, was used to support faculty and staff, primarily by increasing salaries.

“Our number one investment is always our faculty and staff,” he said.

Student success efforts received about 17 percent of the new revenue, the second largest amount, with 9 percent being spent to support research.

Steinmetz made it clear that there was a direct connection between faculty support and plans to boost the U of A’s research efforts in the future. He plans to grow the Chancellor's Innovation and Collaboration Fund, which awards funding for faculty’s collaborative research projects, to eventually include a new Innovation Fund for Research with Commercialization Potential.

This faculty and research support is part of the administration’s  broader research and commercialization plan, directed by the vice chancellor of economic development, Stacy Leeds, and the newly appointed vice chancellor for research and innovation, Daniel Sui. The plan is intended to support Arkansas business, help stimulate the Arkansas economy and provide a wide range of good jobs for Arkansans.

“The goal of the plan is to systematically strengthen the university’s research engine through further investment in our faculty, investment in our research infrastructure and administrative support, and investment in signature research areas,” Steinmetz explained. “The research and  innovation and economic development teams will work to support researchers in the funding and development process and, when appropriate, help them move new ideas that improve lives into the marketplace. Within the next five years  we think we can be producing anywhere from 4 to 8 more startups a year.”

The chancellor also discussed the early results of efforts to support student success, referring to new records in student enrollment, retention and graduation rates, the academic quality of the new freshman class and the increased number of new freshmen from Arkansas.

He especially noted that more than $1.7 million has been raised to increase funding for scholarships, and that 87 percent of the money distributed by the Academic Scholarship Office goes to help make the U of A affordable for Arkansas students.

The chancellor also took time to discuss changes in the methodology used in the college rankings prepared by U.S. News and World Report. He said he supported the changes, even if they caused the U of A to drop substantially in the national rankings. Steinmetz said he’s confident that the drop is temporary and that increased retention and graduation rates will be reflected in future rankings.

“Since the day I got here I’ve said we weren’t going to chase rankings,” Steinmetz said. “    Instead, we’re going to keep focused on the things that matter – retaining and graduating students, serving first generation and diverse students, growing our scholarship base and increasing access.

“If we continue to make consistent progress in these areas, as well as our research and discovery mission, I’m absolutely confident the rankings will rise as we do as an institution. And, more importantly, I am confident that we will add even more value to the lives of our students.”

Looking to the future, the chancellor also reaffirmed his commitment to campus diversity and praised the work of Yvette Murphy-Erby, vice chancellor for diversity and inclusion. He highlighted her efforts to draw people from across campus to get involved in efforts to build a more inclusive environment, particularly the creation of two new volunteer teams, Student Diversity Ambassadors and Faculty and Staff Champions, that are helping keep the U of A community aware of the issues, needs, and concerns related to diversity and inclusion.

The chancellor closed with a pledge and a pair of challenges.

He said that Chris McCoy, the new vice chancellor for finance and administration has been asked to find ways to cut costs in the administrative units across campus, and Steinmetz made a promise: “For every $2 we identify in cost savings, we’ll return one dollar to student support and one to faculty support – nothing will stay in the administration.”

He went on to challenged the campus community to develop a “strong culture of ‘yes’ here at the U of A.”

He followed that with a challenge to faculty, staff and students to recognize the importance of interdependency, describing it as “a shared vision. It’s cooperation, collaboration and alignment of our individual units so we all get better. It’s working together to find common solutions to facilitate the work we do. It’s developing an impactful, true, core value we share as a university.”

The chancellor’s full State of the Union address is can be seen at the University of Arkansas YouTube channel.