SIUE’s economic impact study helps quantify the University’s financial influence on the region
Edwardsville, Ill. (PRWEB) March 16, 2015
Historic student enrollment numbers, significant job growth and a substantial increase in regional expenditures are among the notable findings in Southern Illinois University Edwardsville’s 2015 economic impact report.
The University continues to thrive, boasting a total economic impact on the region of more than $514 million, a nine percent increase since 2010. For every state dollar spent on the University, SIUE generates $8.60 of economic impact in the local economy.
“SIUE's economic impact study helps quantify the University's financial influence on the region,” added Chancellor Julie Furst-Bowe. “Of even greater significance is the positive and far-reaching impact of the dedication of our employees and the contributions of our students.”
More than half of SIUE’s 95,000 alumni live in the region, while historic amounts of new students are moving to the area to pursue higher education at the University. The fall 2014 semester featured a record freshman class of 2,126 students, an eight percent increase over the previous year. The total fall 2014 enrollment of 13,972 is the fourth largest in school history. SIUE’s 2015 full-time spring semester enrollment has reached an all-time high with 10,153 full-time and 13,178 total students enrolled.
SIUE is the second largest employer in the Madison-St. Clair County region. The total number of regional jobs generated by the University expanded from 8,800 in 2010 to 9,200 in 2015.
Other prominent facts detailed in the study:
- The University received $40 million in grants and contracts for research, teaching and service initiatives during FY14
- As a result of SIUE athletics, expenditures in the region nearly doubled from $249,000 in 2010 to $497,000 in 2015
- SIUE generated more than $24 million in state and local tax revenues
SIUE is dedicated to the community as a partner in collaboration and stewardship. The 2015 economic impact report emphasizes the importance of the University as it continues to grow in the St. Louis Metropolitan area.
The University routinely publishes an economic impact report every five years.
The project was led by John C. Navin, interim dean of the SIUE School of Business, and Timothy S. Sullivan and Warren D. Richards, instructors in the School’s Department of Economics and Finance.
Southern Illinois University Edwardsville provides students with a high quality, affordable education that prepares them for successful careers and lives of purpose. Built on the foundation of a broad-based liberal education, and enhanced by hands-on research and real-world experiences, the academic preparation SIUE students receive equips them to thrive in the global marketplace and make our communities better places to live. Situated on 2,660 acres of beautiful woodland atop the bluffs overlooking the natural beauty of the Mississippi River’s rich bottomland and only a short drive from downtown St. Louis, the SIUE campus is home to a diverse student body of nearly 14,000.