Study shows $219.9 million impact of Indiana University Southeast on local economy
Tax payers, businesses, and students alike gain positive returns on investment at Indiana University Southeast with jobs creation and regional investment and spending.
In a study commissioned by IU, it was found that Indiana University Southeast added $219.9 million in the 2018-2019 fiscal year to the region's economy, measured in a number of ways including job creation and spending in the community, which in turn drives more investment in the region. In addition to the benefits enjoyed by the community, the study shows that students are also benefiting from investing in their education at IU Southeast.
Job creation goes beyond employment offered by the university itself. As students and their family and friends spend money in the community, jobs are created to support the demand in retail, dining, entertainment, as well as manufacturing. The study showed that IU Southeast supports over 4,200 jobs, indicating that one out of every 51 jobs in the area is made possible because of the presence of IU Southeast.
The impact of the university on the regional economy is also observed in the way that students, staff and faculty, and visitors to the campus spend money locally. Visitors come for university sporting, art, and cultural events, and they bring their wallets with them. Local businesses are then able to use the added revenue to invest in new business ventures, increasing commerce and demand for new construction.
The positive economic impact is enjoyed by students as well. According to the study, graduates of Indiana University Southeast can expect to make over $20,000 more annually than residents of the region who have only a high school diploma. When graduates stay in the region, their earnings contribute to the wealth of the region. This reciprocal relationship between the university and the surrounding community is expected to continue to improve the local economy. As expressed by IU Southeast Chancellor Ray Wallace in a press release about the study, "The results of this study reflect the significant impact IU Southeast continues to have on the economic growth of our service region. 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."