UL’s Economic Impact Statewide: $379 Million
A report released by the University of Louisiana at Lafayette puts the statewide economic impact for Louisiana at $379 million in fiscal year 2015.
The report was commissioned by University President Dr. E. Joseph Savoie.
The report says, for each dollar contributed to the University, UL was able to generate $6.83 in statewide economic impact.
Those were the findings of an independent study by Appleseed, a New York based consulting firm.
“As this report shows, the University is a significant contributor to the economic health of Acadiana and Louisiana. And it’s clear than state funds provided to UL Lafayette are an investment that pay measurable dividends. When state financial support to higher education institutions is reduced, the economic ramifications reach far beyond the campuses.”--Dr. E. Joseph Savoie,
Among the findings:
• Combined annual earnings of Acadiana residents who hold UL Lafayette degrees are about $710 million higher than they would have been without that level of education.
• UL Lafayette graduates increased Acadiana’s gross domestic product by about 9 percent, which is nearly $2.6 billion.
• The University invested $56.5 million in construction projects, directly supporting 424 full-time-equivalent jobs in Acadiana.
• UL Lafayette spent $40.1 million on purchases of goods and services from Louisiana businesses.
• The University employed 1,919 people, excluding students; 92 percent held full-time positions.
• University, student and visitor spending supported 5,525 jobs and had an overall economic output in Lafayette Parish of $492 million.
Read the story, which includes a link to the entire report, here.