The expectations for contributions of higher education institutions (HEIs) to innovation, global competitiveness and regional development are high despite their location. The chapter discusses the regional mission of a university college located in a complex, peripheral region from establishment in the 1970s to merger with a university 40 years later. The main finding is that the contribution of the university college is limited in the region, even where the contribution of the constituent colleges to their localities has been considerable. In the discussion about the effects of HEIs, it is therefore important to distinguish between local and regional effects.