For immediate release:
Cal State L.A. Contributes to
Golden State’s Economic Health
Los Angeles, CA -- Do you know just how central California State University, Los Angeles is to the value and values of the golden state? Were you aware that the University is estimated to add nearly six hundred million dollars annually to the local economy through operational, auxiliary, alumni, and campus community spending? Or that our campus is responsible for creating more than 9,000 jobs, locally?
Did you know that—without even factoring in the economic impact of Cal State L.A. alumni—for every $1 the state invests, Cal State L.A. returns $4.29 in direct economic benefits? That’s a whopping 429% return on investment even the most touted wizard of Wall Street would find difficult to match. And those are only the direct benefits to our thriving economy attributed to Cal State L.A. employees (including student workers and students contributing voluntary or required community service).
The ways in which Cal State L.A. benefits the state’s regional economy were recently outlined in a CSU study by ICF Consulting. The study shows that indirect benefits are more long-lasting—and ultimately more substantial. Examining the impact of Cal State L.A. alumni yields an impressive picture of how important the University is to the long-term economic health of our neighborhoods.
It’s not just that the University improves the earning power of so many alumni who pass through its doors—the entire educational infrastructure that provides California’s exemplary workforce to do 21st Century jobs depends on Cal State L.A. A leader in producing high value credentialed teachers, the University is also a leading training ground for the community college teachers who are so intimately involved in maintaining the knowledge and skills of the California workforce.
By the time you add up all of the economic benefits that Cal State L.A. generates to the region—including approximately $30 million each year in external funding (grants and contracts), an estimated $10 million-plus in out-of-region student spending, and the increased earning power of Californians with college and post-graduate degrees—the long-term economic impact is even more impressive: the state invests more than $3 billion in the CSU, but gains more than $13 billion in economic activity and more than $700 million in taxes. The value added to California as a result of its well-educated population, and the creative energy the various campuses contribute to the rich life of California, is incalculable.
You can find the entire CSU economic impact report at http://www.calstate.edu/BudgetCentral/.
WORKING FOR CALIFORNIA – California State University, Los Angeles is a comprehensive university at the heart of a major metropolitan city. The 175-acre hilltop campus is located five miles east of Los Angeles’ civic and cultural center. Since 1947, Cal State L.A. has been a leader in providing quality higher education. Today, the campus comprises a faculty of internationally recognized scholars and artists, and more than 20,000 students with a wide variety of interests, ages and backgrounds that reflect the city’s dynamic mix of populations. Cal State L.A. is one of 23 campuses in the CSU system. The University is noted for the Luckman Fine Arts Complex and critically-acclaimed Luckman Jazz Orchestra; its focus on alternative energy technology; the unique Early Entrance Program for gifted youngsters; the first of its kind Charter College of Education; and a renowned forensic science graduate program, among many others.