NEW ALBANY — According to the results of a recent economic impact study, IU Southeast added $219.9 million in income to the region’s economy in FY 2018-19. This is equal to the sum of the operations and construction spending impacts, the visitor and student spending impacts and the alumni impact.
Expressed in terms of employment, IU Southeast’s impact supported 4,225 jobs, according to a news release issued by IUS. The “Economic Value of Indiana University” study also indicated that:
• One out of every 51 jobs in the region is supported by the activities of IU Southeast and its students.
• For every $10,000 students invest in their education at IU Southeast, they will receive $45,000 in higher future earnings.
• For every $10,000 in tax dollars spent educating IU students, taxpayers will receive an average of $9,000 in return over the course of the students’ working lives.
• For every $10,000 that society invests in IU Southeast, Indiana will see $67,000 in benefits over the students’ working lives.
The additional income of $219.9 million by IU Southeast is equal to approximately 1.3% of the total gross regional product (GRP) of its service area.
The study was commissioned by IU and conducted by Emsi, a leading provider of economic impact studies and labor market data to educational institutions in the U.S. and internationally. Applying a conservative methodology and using only the most recognized indicators of economic impact and investment effectiveness, the study examined the economic impacts of IU’s spending across the state’s major industries and the costs associated with IU educational activities from the perspective of students, taxpayers and society at large.
“The results of this study reflect the significant impact IU Southeast continues to have on the economic growth of our service region,” said IU Southeast Chancellor Ray Wallace. “It is proof that we are fulfilling our mission to become one of the nation’s leading student-centered, comprehensive regional universities. We will work diligently to ensure our students continue to see high returns on their IU Southeast investment.”
The complete executive summary can be viewed at https://impact.iu.edu/reports/ius-execsummary.pdf.