On October 30, 2006, the Federal Reserve Bank of Chicago and the Midwest Higher Education Compact held a conference on higher education and economic growth. Speakers included Michael Moskow, Richard Lester, Michael Luger, Sean Safford, Larry Isaak, Stefanie Lenway, Rod Shrader, Brian Fabes, Arthur Rothkopf, Randy Eberts, Gary Fethke, Victor Lechtenberg, Lou Anna Simon, and David Chicoine. Higher education has always played a significant role in the Midwest's economy as a producer of human capital and as a center for research and development. Adding a third explicit expectation that higher education support regional and local economic growth has clearly had its successes, but it remains to be seen whether all higher education institutions should embrace this engagement mission. (Contains 1 figure.)