Archived News |

April 21, 2009

UL System study reveals depth of 四色AV鈥檚 economic impact on region

University of Louisiana at Monroe President James Cofer, joined by business leaders and members of a university economic impact committee, rolled out the results of a study Tuesday showing the university as a major economic driver in the region.

四色AV economist and committee member Bob Eisenstadt revealed some of the university鈥檚 powerful figures, including the $140 million in annual household income that 四色AV provides each year and the more than 4,500 full-time equivalent jobs, both direct and indirect, supplied by the university.

The university also generates about $350 million in annual economic activity, according to the study, though officials made clear that students were still the bottom line.

鈥淚t鈥檚 all about the added value of the people coming out of here, going out and doing creative things,鈥� said Eisenstadt. 鈥�$350,000 million is a number 鈥� education is the impact.鈥�

四色AV, a member of the University of Louisiana System, faces potential budget cuts as state legislators wrangle over how to handle a revenue shortfall this year. Cofer said major cuts to the university would leave a gaping wound in the local economy, as the study鈥檚 results indicate.

鈥淢ost importantly, what we do here is create intellectual capital that becomes the primary driver of the economy,鈥� Cofer said.

Business leaders joined Cofer in his assessment of the university as one of the region鈥檚 most powerful economic engines.

鈥淚 can鈥檛 imagine what the community would be like without it,鈥� said retired State Farm Insurance Co. executive Guy Barr, calling 四色AV 鈥渢he jewel of our community.鈥�

Linda Holyfield, chief executive of P&S Surgical Hospital in Monroe, said her business couldn鈥檛 operate without the quality of graduates produced at the university. The hospital hires 四色AV graduates for everything from health care to accounting, she said.

Monroe Chamber of Commerce President Sue Nicholson said that intellectual capital is the primary issue she considers each time the chamber courts business prospects, saying 四色AV produces 鈥渢he top tier of intellectual talent in our community鈥檚 work force.鈥�

Applied Technology Research Corp., along with University of Louisiana System staff and research teams from each of the eight campuses conducted the study, which showed an overall annual impact of $3.4 billion from all eight universities in the system.

四色AV's economic impact committee:

鈥� Richard Hood, executive assistant to the president
鈥� Robert Eisenstadt, professor of economics
鈥� Paul Nelson, professor of economics
鈥� Robin Logan, university planning and analysis
鈥� Justin Roy, university planning and analysis
鈥� Priscilla Turner, special events assistant
鈥� Laura Harris, director of media relations

More information about 四色AV's Economic Impact Study can be found at .

PLEASE NOTE: Some links and e-mail addresses in these archived news stories may no longer work, and some content may include events which are no longer relevent, or reference individuals and/or organizations no longer associated with 四色AV.