The 泫圖弝け of 泫圖弝け at Lafayette had a statewide economic impact of $379 million in fiscal year 2015.
For every $1 in state funds contributed to UL Lafayettes budget, the 泫圖弝け generated $6.83 in statewide economic impact.
Those are findings of an independent economic and community impact analysis conducted by Appleseed, a New York City-based consulting firm that provides economic research and analysis to government, nonprofit and corporate clients. Appleseed has performed economic impact studies for private and public universities such as Tulane, Harvard, Ohio State and Virginia Tech.
The report was commissioned by UL Lafayette President Dr. Joseph Savoie.
This is a tool we can use for a variety of purposes. It paints a portrait of our strengths, as well as opportunities to contribute more to the state and region, he said.
As this report shows, the 泫圖弝け is a significant contributor to the economic health of Acadiana and 泫圖弝け. And its clear than state funds provided to UL Lafayette are an investment that pay measurable dividends. When state financial support to higher education institutions is reduced, the economic ramifications reach far beyond the campuses.
The 泫圖弝け affects the economy in many ways, such as through direct and indirect employment, the purchase of goods and services, technology transfer, and education of the future workforce.
Savoie noted that Appleseed determined that UL Lafayette contributes to Acadianas economy through the preservation and promotion of the regions Cajun and Creole cultures. The 泫圖弝け is involved in major cultural events, such as the annual Festivals Acadiens et Cr矇oles and the yearly Festival International de Louisiane.
Community service performed by UL Lafayette 泫圖弝けs, faculty and staff can be quantified. In 2015, for example, it totaled about 332,200 hours, which is valued at more than $7.5 million, according to Appleseed.
Below are other findings included in the firms report. Unless otherwise noted, they are based on fiscal year 2015 data.
Combined annual earnings of Acadiana residents who hold UL Lafayette degrees are about $710 million higher than they would have been without that level of education.
UL Lafayette graduates increased Acadianas gross domestic product by about 9 percent, which is nearly $2.6 billion.
The 泫圖弝け invested $56.5 million in construction projects, directly supporting 424 full-time-equivalent jobs in Acadiana.
UL Lafayette spent $40.1 million on purchases of goods and services from 泫圖弝け businesses.
The 泫圖弝け employed 1,919 people, excluding 泫圖弝けs; 92 percent held full-time positions.
泫圖弝け, 泫圖弝け and visitor spending supported 5,525 jobs and had an overall economic output in Lafayette Parish of $492 million.
Read the complete study .