Staring down the barrel of a $3 billion budget deficit for 2011-13, a figure that’s likely to grow even larger, the governor is seeking ideas for reprioritizing state government, and making it more efficient and effective.

For maximum effectiveness over the long term, nothing is more important than building and maintaining a robust and efficient system of higher education. Gov. Chris Gregoire understands that, and has tapped an impressive group of private- and public-sector leaders to recommend a sustainable funding strategy for the state’s four-year universities.

The task force is chaired by Microsoft Corp. Vice President and General Counsel Brad Smith, and includes executives from a variety of leading business sectors, a handful of education professionals and, interestingly, one elected official: Everett Mayor Ray Stephanson.

(Stephanson’s presence suggests a recognition by the governor of the critical role Snohomish County must play as the state seeks to expand undergraduate and graduate degree opportunities.)

The group has plenty of brainpower, but little time — its recommendations are due to the governor this fall. Still, it has a golden opportunity to influence the long-term direction of higher education in Washington, and therefore the state’s economic future.

Two years ago, the Legislature endorsed the goal of substantially increasing the production of baccalaureate and graduate degrees in Washington, for good reason: It’s central to solving the state’s chronic budget problems.

More degrees means more and better-trained workers for business and industry. It means higher household incomes, fewer people in poverty, fewer demanding expensive social services, and more tax revenue to fund other priorities.

On four-year campuses, it means more students and professors engaging in the research that fuels innovation and job growth.

K-12 education has a special status under the state Constitution, which cites it as the state’s paramount duty. Higher education needs similar protection, if only statutory. A funding floor should be established for higher ed, one that increases rapidly as the economy recovers. (Recent cuts have reduced college and university funding almost to what it was 10 years ago.)

At the same time, greater efficiencies and accountability are essential. Individual campuses may need to offer a narrower range of courses. Costly traditional systems like faculty tenure — essentially a lifetime job guarantee — should be sacked if they don’t add value. The Evergreen State College in Olympia might be a terrific model: It did away with tenure in 1971, implementing renewable contracts instead. (Evergreen President Les Purce is on the governor’s task force. Hmmm …)

Along with near-term policy choices, this task force will shape future discussions that could have a profound impact for generations.

What an opportunity — clearly, one not be squandered.