Indiana State University has released a study that says that connects the school to 4 percent of all jobs in the Wabash Valley. The analysis, conducted by Indianapolis-based Thomas P. Miller & Associates LLC, says ISU contributes $334 million a year to the local economy. It suggests 4,537 jobs were created statewide last year by ISU, which had earnings of $172 million and output of $411 million.
Earnings are defined as gross income of wages earned at directly-created or supported jobs by Indiana State and output refers to revenue from those wages that is spent or consumed within the region. ISU employed 2,400 full and part-time workers in the 2016 fiscal year.
The university says the results are preliminary and the full findings will be released later this month. The final report will also include recommendations from TPMA on how the university can boost its economic development contributions, including pushing for renovations of the 10,200-seat Hulman Center which is in early design/development phases.
Government Relations Department Executive Director Greg Goode says "Indiana State University is very grateful for the financial investment it receives from the state of Indiana and, each year, that investment helps the university carry out its vital educational mission while also providing a significant value-add benefit that spurs the economy of the region and state. This study once more affirms the importance of public higher education as a 21st century economic driver, and the people of Indiana State work hard every day to better position west-central Indiana as a thriving, competitive region. We could not do this without the support of the state of Indiana."
The school last conducted a study of this nature in 2012, but says the metrics are not comparable to the most recent round of findings.
You can connect to more about the preliminary numbers by clicking here.