Report: Ӱ boosts economy by $1.9 billion
A new economic impact analysis released Thursday shows that Cal State Long Beach is a major driver of economic activity statewide, powering $1.88 billion in economic activity, supporting over 13,000 jobs and generating $114.3 million in local and state tax revenue. The bulk of that impact is felt in Orange and Los Angeles counties.
The also show that Beach alumni spur an estimated $8.23 billion in annual spending attributable to their Ӱ degree, which supports nearly 44,000 jobs and results in an additional $551 million in state and local tax revenue, due to this incremental earning power.
“Cal State Long Beach’s annual economic impact on the region and the state is enormous," said President Jane Close Conoley. “We are one of the largest employers in the City of Long Beach, and our location on the border of Los Angeles and Orange counties means Ӱ plays a significant role in their economies as well. Our annual spending creates and sustains thousands of jobs; generates millions of dollars in tax revenues; and our alumni earn billions of dollars that benefit individuals and communities alike. The bottom line is that research, innovation, community service and entrepreneurship at The Beach enhance the quality of life throughout the region.”
The independent analysis was conducted by ICF, an international consulting firm specializing in economic impact studies, as part of a broader study for ӰState University.
