May 11, 2010

CSU Monterey Bay spending sustains 1,500 jobs

With university-related annual spending of more than $155 million, CSU Monterey Bay sustains nearly 1,500 jobs in the region, according to a new report issued by California State University.The report, "Working for California: The Impact of the California State University System," demonstrates that the 23-campus system is a key source of job creation and innovation for the state economy.

According to the report, CSU-related spending generates more than $17 billion in economic activity in California, supporting about 150,000 jobs and generating nearly $1 billion state and local taxes annually.

It estimates that for every dollar invested by California, the CSU generates $5.43 for the state economy.

CSUMB's economic impact generates nearly $8.5 million in local and more than $17 million in statewide tax revenue. And more than $97 million of the earnings by CSUMB's alumni are attributable to their degrees.

The analysis comes as the governor prepares to release his revised budget Friday. The report is available here.