This paper in brief presents the history of cooperation between the Yuzhnoye State Design Office (YSDO) and University’s applied-physics faculty focused on drawing the enterprise specialists to teaching activity at the faculty, and University graduates – to work at the enterprise. Interchange of personnel throughout three periods is analyzed: a) in the remote past (early 1950s - late 1980s); b) watershed years at the turn of millennia (early 1990s – mid 2010s) and c) nowadays (from mid 2010s). Forecast attempt for the near future is also made. Active participation of the outstanding YSDO specialists in the organization and education at the faculty, especially at the first stage of cooperation, is shown. In particular, Y. A. Smetanin, YSDO Deputy General Designer, was the head of department №1, N. S. Shnyakin was the head of department №2, department №3 was chaired by N. F. Gerasyuta – Head of Dynamics, Ballistics and Control Department in YSDO. At that period faculty trained annually all in all ~300 young specialists for Yuzhnoye State Design Office. Great deal of problems and new challenges, which emerged in watershed 1990s, are described. Despite this, close cooperation between the YSDO and faculty was basically maintained. Thus, for example, for several years S. N. Konyukhov, YSDO General Designer, chaired the state examination board on defence of graduation works of the department №1 students. At the same time, number of aerospace specialties graduates this period has sharply decreased to 35 graduates. The present state of affairs, causing concern, is shown. Actual admission rate for the aerospace specialties for the past years suggests that starting with 2022, number of graduates for Yuzhnoye State Design Office can practically reduce to nothing.