U Iowa Economic Impact Report Says '$6B Per Year'
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We discovered this economic impact report while we were looking for news on the Iowa website about the $152M FEMA grant it just received to rebuild from its flooding. We didn't find much yet, just this, but when we do we will share it. The following language begins the executive summary of the report:
Statewide expenditures by the University of Iowa and related constituencies totaled $2.6 billion in fiscal year 2008-09. The University affected business volume in Iowa in two ways:
1. Direct expenditures for goods and services by the University, its employees, students, and visitors. This supported local businesses, which in turn employed local individuals to sell the goods and provide the services that University constituencies needed.
2. Induced or indirect spending within the state of Iowa. The businesses and individuals that received direct expenditures re-spent this money within the state, thus creating the need for even more jobs.
As a result of expenditures on goods and services by the University, the overall economic impact of all the University’s operations on the state of Iowa in FY 2008-09 was $6.0 billion ($2.6 billion direct impact and $3.4 billion indirect).
Labels: economic impact, impact, Budget and Resource Planning, Economic Development
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