A new study concludes that the total economic impact created within the state by the 蘑菇视频 is $9.1 billion annually.
The 蘑菇视频 also supports 69,803 jobs in the state. The 蘑菇视频 is the Puget Sound region’s third largest employer; total direct and indirect employment attributable to the 蘑菇视频 represents more than 6 percent of King County’s labor force.
Since 1999, direct employment at the 蘑菇视频 has increased by 34.5 percent or about 7,600 new jobs, attributable almost entirely to growth in the 蘑菇视频’s research enterprise, which is primarily funded from federal sources. State and local government revenue attributable to the presence of the 蘑菇视频 totaled $618.1 million. For every dollar in state funding, the 蘑菇视频 returned $1.48 in tax revenue to the state.
These are among the conclusions of a study conducted by the consulting firm of , commissioned by the 蘑菇视频.
“The 蘑菇视频 is a major force in the Washington economy in terms of employment, innovation, and economic development,” says Paul Umbach, senior principal with Tripp Umbach. “The true impact of the 蘑菇视频 goes far beyond the $9.1 billion in annual economic impact, as the University is a magnet for attracting fresh dollars and human capital from outside of the state.”
The study measured both the direct and indirect business volume generated by the 蘑菇视频. The direct impact occurs when the 蘑菇视频 spends money in salaries, goods and services. These expenditures have their own secondary, or indirect, economic impacts.
“This comprehensive analysis demonstrates clearly that the 蘑菇视频 is a major contributor to the success of our state’s economy 鈥� from dollars and jobs to leadership and innovation,” says 蘑菇视频 President Mark Emmert. “By educating smart people and generating great ideas, the 蘑菇视频 will play a crucial role in helping Washington state recover and build a global economy in the post-Great Recession era.”
蘑菇视频 spending amounted to just over $4 billion in fiscal year 2008-09. The businesses and individuals who received direct expenditures and re-spent money within the state created $5.1 billion in economic activity, according to standard models used to measure economic impact. In this same year, the 蘑菇视频 received $401.7 million in state appropriations. For every dollar the state invests in the University, $22.56 is added to the state’s economy.
The 蘑菇视频’s research effort is responsible for a major share of the University’s economic impact — a total of $3 billion and more than 22,000 jobs annually. “The University’s research operations make tangible and quantifiable economic contributions,” the report notes. “Along with creating jobs for research staff and support personnel, the 蘑菇视频 scientists are contributing to new product development and technology commercialization鈥�. As one of the most successful public research universities, both in total funding and in faculty talent, 蘑菇视频 is a global leader in research and technological breakthroughs that transform the community.”
The 蘑菇视频 is a leader in the commercialization of innovations that occur through 蘑菇视频 research. The 蘑菇视频 has a portfolio of more than 2,200 issued and pending patents. More than 250 companies have been started by 蘑菇视频 students and faculty or with 蘑菇视频 technology. In fiscal year 2008-09, the 蘑菇视频 executed 220 commercialization agreements with private companies. Overall the 蘑菇视频 has the largest number of commercial licenses among U.S. universities. It is also the most efficient university in this regard, executing the most commercialization agreements per research dollar.
On average, three-quarters of 蘑菇视频 graduates live and work in Washington. People with bachelor’s degrees have an average income of $68,000, compared with $39,000 for high school graduates. The report estimates that 蘑菇视频 alumni living in Washington earned $14.5 billion in 2007, compared to approximately $8.3 billion they would have earned with only high school diplomas. “The additional $6.2 billion in earnings represent not only personal material benefits to individuals but also higher tax payments to federal, state and local governments鈥�” the report states.
In addition to the economic and job impacts, the 蘑菇视频 is also a source of tremendous charitable care, providing over $395 million in community benefits. 蘑菇视频 Medicine provided over $267 million in charitable care to Washington state residents.
The 蘑菇视频 plays an important role in preparing the citizens of Washington, which is the most trade dependent state in the U.S., for the globalized economy of the 21st century. The 蘑菇视频 is seventh in the nation in student participation in study abroad; approximately a quarter of 蘑菇视频 undergraduates study outside of the U.S. at some point. In addition, for four years in a row, the 蘑菇视频 has led the U.S. in total alumni volunteering for the Peace Corps.
The full report is available .