New Study Details University’s Economic Impact; Commencement Weekend a Boost to Local Economy

FOR IMMEDIATE RELEASE
Date: 05-20-2010

Joe Wills
Public Affairs
530-898-4143

California State University, Chico’s economic impact on the region is detailed in a new report titled “Working for California: The Impact of the California State University System.”

An excerpt from the report’s findings about CSU, Chico states:

  • Annual spending related to CSU, Chico ($413 million) generates a total impact of $761 million on the regional economy and more than $960 million on the statewide economy.
  • This impact sustains more than 8,400 jobs in the region and statewide.
  • Per year, the impact generates more than $46.6 million in local and nearly $59.8 million in statewide tax revenue.
  • Even greater — nearly $2 billion of the earnings by alumni from CSU, Chico are attributable to their CSU degrees, which creates an additional $3.6 billion of industry activity throughout the state.

Regarding the entire 23-campus California State University System, the study states the CSU and all its graduates produce $70 billion in economic activity and support more than 485,000 jobs – or one in every 32 jobs in the state today.

The CSU System has about 433,000 students and 44,000 faculty and staff and produces about 90,000 graduates each year.

The report, conducted by ICF International for the CSU, can be found at http://www.calstate.edu/impact/.

Underscoring the University’s economic impact to the region, CSU, Chico’s Center for Economic Development (CED) estimated this week that the University’s academic year-end activities this weekend – graduation events and move-out for other students – will generate at least $8.8 million for the local economy.

The CED estimated that about 18,900 visitors will come to Chico for Commencement exercises and another 1,425 visitors will be in town to assist students to move out of Chico and head back home.

Using economic impact tools to measure spending in categories such as food, transportation and lodging, the CED estimated each visitor would spend at least $149.20 per day while visiting Chico.

About 3,200 CSU, Chico students are receiving B.A. or graduate degrees at events beginning today, May 20, and continuing through Sunday, May 22.

###