March 31, 2015
Each spring, I deliver an annual address to USC’s faculty, and this year I focused on the much-discussed topic of the value of college education, and the exceptionally central role that universities such as USC play in society. In recent years, universities have come under tremendous scrutiny—with heated criticism regarding increases in tuition and burdensome student debt—and some critics have even asked if a college education is worth the cost. My remarks, which I am sharing with you here, answer with a resounding yes.
Building a biotech corridor in Los Angeles
With enormous potential to boost the region’s economy, USC was pleased recently to host a summit to advance support for building a biotech corridor in Los Angeles. Such a hub would create thousands of new jobs in our region—and keep talented graduates of our local universities close to home. The summit drew distinguished leaders from business, academia, and government, including Los Angeles County supervisors Hilda Solis and Mark Ridley-Thomas, as well as Bill Allen of the Los Angeles Economic Development Council. I believe we stand at an auspicious moment in the history of medicine and the biological sciences, and each day brings advances that not only improve how long we live, but how well we live. A biotech corridor would position USC as a leader in this area, and allow us to usher in progress and economic development—right here in the heart of our city. What Silicon Valley brought to computer technology, Los Angeles can bring to biotechnology: a thriving environment of innovations encompassing academic institutions, training centers, companies, and communities throughout the county. The day before the summit, the Los Angeles Times published an OpEd that I authored in which I expand on these views. My OpEd served as the basis for a motion that Councilmember Mitchell Englander presented to the Los Angeles City Council; in it, he proposed business tax exemptions for biotech companies in the city. These all are important steps forward in the realization of this important opportunity.
USC strengthens ties with Mexico
While USC serves as a source of economic stimulus and innovation locally, we realize the additional potential we have when we expand our partnerships globally. Earlier this month, I led a delegation of USC trustees, deans, and faculty to Mexico City, with the goal of strengthening the university’s collaborations with Mexican institutions, as well as building relationships with alumni, prospective students, and parents. During our time there, we met with business and government leaders, and made official visits to the National Council for Science and Technology (CONACYT) and National Autonomous University of Mexico (UNAM). Over the last four years, USC has nearly quadrupled its Mexican student base, and Mexico’s position as an integral partner—not only for USC and California, but for the United States—will surely grow. As part of our trip, I presented Mexico’s Secretary of Foreign Affairs, José Antonio Meade Kuribreña, with the university’s inaugural Judge Widney Award. Our visit generated significant coverage in Mexican news outlets: our delegation participated in over 30 interviews, which led to more than 85 published stories in top-tier media.
USC receives gift from Trustee Ray Irani
I am pleased to let you know that our distinguished trustee, Dr. Ray Irani, generously pledged $20 million to the university, of which $15 million will create the Ray Irani Residential College at the USC Village. Irani College—one of nine new residential colleges planned for the USC Village—will be a supportive community that integrates living, learning, and extracurricular activities for up to 320 students. Taken together, the nine residential colleges will add as many as 2,700 student beds to our University Park Campus, and increase the number of students in USC-owned housing by nearly 40 percent. This gift builds on the already stellar philanthropic legacy of Dr. Irani and his wife, Ghada; he is an illustrious alumnus of our engineering school, and they have both been beloved members of the Trojan Family for more than six decades. The additional $5 million of this gift creates the Ghada Irani Chair in the Keck School of Medicine of USC, and the Ray Irani Chair in a school or department to be designated later. The gift also establishes a million-dollar student support fund. Irani College is the second residential college to be named at the new USC Village—the other being McCarthy Honors College.
Julie Chen/Leslie Moonves and CBS Media Center
Our Annenberg School for Communication and Journalism is now home to the Julie Chen/Leslie Moonves and CBS Media Center, thanks to a new naming gift. The 20,000-square-foot, two-story media center—located in Wallis Annenberg Hall—serves as the school’s new hub of digital media production and education, with innovative features and design that surpass most professional newsrooms. The school hosted a wonderful event to introduce the media center, and drew considerable coverage: Entertainment Tonight noted that the facility provides the school’s journalism and public relations students with first-hand experiences of cutting-edge technology.
L.A. Live Talks Business Forums
Earlier this month, I was a guest of the L.A. Live Talks Business Forums, and was interviewed by Peter Marx, Los Angeles’ deputy mayor and chief innovation technology officer. We discussed a variety of topics, including USC’s innovations and its place as a leader in global education. Our discussion is posted on the series’ website: business.livetalksla.org. As always, thank you for your continued service as a USC Ambassador.
Yours truly,
C. L. Max Nikias
President