Economic Storytelling, Tourism Improvement Districts and University Partnerships

Business Improvement Districts (BID), sometimes called Tourism Marketing Districts (TMD) are innovative initiatives that levy assessments as a means of funding what might be traditionally paid for by local government. A recent increase in such organizations internationally may provide universities with an opportunity for a variety of positive benefits including revenue, research, educational improvement, and impactful student experiences. Universities and colleges have a history of partnering with industry, often referred to as University-Industry Partnerships (UIC), as a means for confronting ever-increasing economic challenges and shrinking budgets. Indeed, as funding for public universities continues to decrease, schools and departments within the university are forced to seek alternative revenue streams. The goal of the current study is to provide a conceptual model for understanding and engaging in economic storytelling as the research arm of such organizations. A case study of the partnership between San Diego State University and San Diego’s Tourism Marketing District is assessed against a model of best practices in partnering. Results highlight the value of the model and provide direction for other University-Industry Partnerships (UIC).