JMU eyes $2 billion economic impact by 2040

When James C. Schmidt became president of James Madison University last July, his top priority was to craft a plan to guide JMU through 2032 to 2040. Within weeks, he began meeting with faculty, staff, alumni and students to solicit their input. He also traveled across Virginia to hear from 100 CEOs and other stakeholders about how JMU could better meet workforce needs. The result is Madison Promise.

The ambitious strategic plan includes the need to expand student housing and increase out-of-state enrollment, but it focuses heavily on strengthening JMU’s economic partnerships, aiming to generate a $2 billion economic impact on the commonwealth during the next 14 years.

One of its first priorities is improving communication by making it easier for people to connect with university contacts. Frustration with not being able to reach the right people at the university came through “loud and clear” on his listening tour, Schmidt says, and by year’s end, JMU will have a “clear front door” to route requests from employers and other constituents.

Leaning into the university’s healthcare offerings will be a primary focus. As Virginia continues to face a nursing shortage, a planned $115.3 million, 125,367-square-foot expansion of the College of Health and Behavioral Studies will increase the university’s capacity to graduate more nurses and support growth in fields such as kinesiology and physical therapy. “You don’t need to be a brain surgeon to see that over the next 18 years, baby boomers will need a lot more healthcare,” Schmidt says.

JMU also will add financial planning and real estate programs to its existing business curriculum. With about 40% of students hailing from Northern Virginia, the university will seek more partnerships with businesses in that region, including internship programs. Almost 80% of JMU’s Class of 2024 completed at least one workplace experience, but Schmidt wants “every single student to have that experience.”

Madison Promise’s goals further seeing JMU earn Carnegie R1 research university status. JMU is an R2 institution now, and Schmidt says it will achieve the top research ranking by doubling down on its strengths in healthcare and computer sciences.

“Our new president wants to build on what people already value about JMU,” says Honors College Dean Bethany Blackstone, a co-chair of the planning process, “and he is incredibly committed to figuring it out.”