This study demonstrates Weber State University's economic impact on the local, regional and state economies in terms of job creation and general economic activity. The model measures the amount of state-appropriated funds against the amount of money spent, recycled or created within the Utah community.
Return on Taxpayer Investment
State of Utah
For every tax dollar appropriated to WSU from the Legislature, $5.55 is circulated throughout the state. State appropriations for 1999-2000 totaled $50,596,346. This amount, when compared to university, employee and student expenditures, generated $159,350,102 in direct economic impact and $121,520,388 indirectly, with the total economic impact of $280,870,489.
WSU was responsible for 3,989 full-time jobs for Utah residents during the 1999-2000 school year. In 1999-2000 WSU employed 1,479 full-time people. Using the labor multiplier, the model shows that each full-time position at WSU creates an additional 1.7 jobs in Utah.
Return on Taxpayer Investment
Northern Davis, Weber and Morgan Counties
For every tax dollar appropriated to WSU from the Legislature, $3.95 is circulated throughout Northern Davis, Weber and Morgan Counties. In 1999-2000, WSU generated direct expenditures of $113,419,289 and indirect expenditures totaling $86,493,550, for a total economic impact of $199,912,839.
WSU employed 1,204 full-time local employees which created 2,043 full-time positions outside of the university in Northern Davis, Weber, and Morgan Counties.
Return on Taxpayer Investment
Other Utah Counties
For every tax dollar appropriated to WSU from the Legislature, $1.60 is circulated in other Utah counties. From 1999-2000, WSU generated direct expenditures of $45,930,812 and indirect expenditures equal to $35,026,838, for a total economic impact of $80,957,650.
WSU employed 275 full-time employees which accounted for 467 full-time jobs in other Utah counties.
The table below summarizes all three areas.
|
Weber State University |
Northern Davis, Weber, Morgan |
Other Utah Counties |
State of Utah |
|
Investment of state |
$50,596,346 |
$50,596,346 |
$50,596,346 |
|
Direct economic impact |
$113,419,289 |
$45,930,812 |
$159,350,102 |
|
Indirect economic impact |
$86,493,550 |
$35,026,838 |
$121,520,388 |
|
Total economic impact |
$199,912,839 |
$80,957,650 |
$280,870,489 |
|
Full-time employment related to WSU |
3,247 |
742 |
3,989 |
|
Budget related enrollment fall 1999 |
14,216 |
14,216 |
14,216 |
|
Return on state taxpayer investment |
$3.95 |
$1.60 |
$5.55 |
Economic Study Model
This study is based on the Ryan-New Jersey Model which considers direct expenditures of the university, employees and students. It assumes an indirect impact resulting from the additional business volume generated by direct expenditure. The total is calculated by multiplying the amount of direct expenditures by an economic multiplier. Likewise, each university employee requires services and products from other businesses, thus an employment impact may be estimated using WSU full-time employment figures and the labor multiplier.
This model was chosen for the following reasons:
The estimates are a reliable way of calculating the economic impact of universities on outlying communities. An exact measure of total economic impact requires exhaustive surveys of employees, students and businesses which is not cost effective at this time. The model is conservative. It excludes part-time employment, creation and attraction of new industry, higher wages, decreased unemployment, self-supporting enrollments, restricted revenues, or quality of life. Estimates may be compared to other in-state institutions.
For more information contact:
Steve Kerr
Director of IR
(801) 626-7587
skerr1@weber.edu