The craze these days among state entities facing the budget ax is to trumpet how important they are to the economy as a justification for being spared the most hideous of proposed budget reductions. The University of Louisiana colleges are no exception. The system announced today the results of a study showing that the UL system has an annual economic impact of $3.4 billion on the state of Louisiana, providing an $8 return for every dollars of state investment. UL System President Randy Moffett commissioned the study in August to measure the contribution the system’s eight institutions make to the state’s economy. “We are often asked what we do and why we matter,” he says. “In this age of accountability these are important questions that need to be answered.”
Producing graduates critical to the state’s workforce and fueling economic growth through research and services programs are just a couple of the ways UL campuses are good for the state, Moffett says. Besides employment at its institutions, UL expenditures also support 34,800 jobs throughout the state in construction, health care, transportation, retail and other service industries, says the report. To ready the full study, click here.—Steve Clark
