Cal Poly economic impact report

Cal Poly generated a total economic impact of $1.4 billion in San Luis Obispo and northern Santa Barbara counties in 2012-13, according to a report released Friday. Read more:
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  Economic Impacts of California Polytechnic State University Release Date: November 2014  Executive Summary   4 Introduction   9 Acknowledgements   11 I. Methodology   12 II. Cal Poly in Context: The Economy of the Region   16 III. Cal Poly as Generator of the Region’s Income   18 IV. Cal Poly as Developer of the Region’s Human Capital   41 V. Cal Poly as Stabilizer of the Region’s Economy   48 VI. Cal Poly in 2022: Helping to Build the Region’s Future   52 Technical Notes   59 Table of Contents 2    Economic Impacts of California Polytechnic State University PREPARED BY: Kenneth Riener, Ph.D., Professor Emeritus | Patrick Mayeda, PrincipalProductive Impact LLC | San Luis Obispo, CA November 2014  A Executive Summary 4   S ONE OF 23   campuses in the California State University system, California Polytechnic State University (Cal Poly) is world-renowned for its Learn by Doing approach to education and its unique comprehensive polytechnic identity. Consistently ranked among the best higher education institutions in the west, Cal Poly develops and inspires whole-system thinkers to serve California and help solve global challenges. As a vital contributor to San Luis Obispo and northern Santa Barbara counties, the university plays a key role in generating, developing and stabilizing the region’s economy. Generating the Region’s Income With 2,741 employees and 19,703 students, Cal Poly’s expenditures directly impact the economy of the area. The greatest expenditure for Cal Poly is the local university payroll, totaling more than $254 million in compensation. Student spending off campus, including both room and  board and retail estimates, is second highest at $160.8 million. More than 19,000 Cal Poly students engage in Learn by Doing activities on and off campus throughout the academic year. TABLE 1:  ECONOMIC OUTPUT OF CAL POLY FY 2012-13 For Fiscal Year (FY) 2012-13, Cal Poly created a total economic impact of $1.414 billion on San Luis Obispo and northern Santa Barbara counties. Direct impacts totaling $1.100 billion led to an additional $313.9 million in indirect and induced spending in the local area.   (See Table 1.) SOURCE OF FUNDS DIRECT INDIRECT INDUCED TOTAL University payroll $254,311,664 $139,598,601 $393,910,265Local university purchases $15,929,423 $2,846,884 $5,667,444 $24,443,752Student spending $160,766,254 $27,347,827 $25,834,054 $213,948,135Retired staff and faculty spending $89,399,921 $89,399,921 Visitor spending $21,927,135 $6,183,767 $4,866,909 $32,977,811Local capital expenditures $16,159,599 $5,069,924 $7,120,797 $28,350,320Increased factor productivity $629,138,511 $629,138,511Student volunteer work $2,142,250 $2,142,250 TOTAL $1,100,374,836 $41,448,402 $272,487,727 $1,414,310,964


Jul 23, 2017
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