CALIFORNIA BUSINESS MINUTE
Impact of CSU
05-13-10
Hi, I am Tim Johnson and welcome to the California Business Minute
This past week, the California State University system released a report on
the economic impact of its 23 campuses, entitled, ‘Working for California:
The Impact of the California State University System.’
According to the report, direct California State University, CSU-related
expenditures for wages and salaries; capital equipment and supplies; student
spending on textbooks, meals, and housing; and an array of other items related
to its educational mission for the 2008-09 fiscal year totaled $7.96 billion.
All encompassing the direct and indirect impacts, the report identifies the
system has $17 billion in economic activity that results from CSU-related
spending and that spending generates nearly $1 billion annually in state and
local taxes.
Additionally, the report identified that “For every dollar the state invests
in the university, the impact of CSU-related expenditures alone creates $5.43
in total spending impact,” says the report. “When the impact of the enhanced
earnings of CSU graduates is included, the ratio rises to $23 in total spending
impact for every dollar the state invests in the CSU. These findings show that
the CSU has a massive economic impact on California with state and local
governments annually getting back more in taxes than the state’s annual investment
in the CSU, making the CSU increasingly valuable.”
Among key industries that rely on CSU for their workforce are agriculture,
business, education, life sciences, engineering, information technology, media,
and hospitality and tourism. For example, CSU graduates 60 percent of nurses
statewide, 64 percent of hospitality and tourism graduates, 62 percent of
agriculture as well as 54 percent of business professionals. And more than half
the state's newly-credentialed teachers are CSU graduates.
In the 2009-10 fiscal year, the Chancellor's Office and the system has
23 campuses, about 433,000 students and 44,000 faculty and staff.
To see the full report go to http://www.calstate.edu/impact/
I am Tim Johnson and this has been the California Business Minute.
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