The 小蝌蚪APP had a statewide economic impact of $379 million in fiscal year 2015.
For every $1 in state funds contributed to UL Lafayette小蝌蚪APP檚 budget, the 小蝌蚪APP 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.
小蝌蚪APP淭his 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,小蝌蚪APP he said.
小蝌蚪APP淎s this report shows, the 小蝌蚪APP is a significant contributor to the economic health of Acadiana and Louisiana. And it小蝌蚪APP檚 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.小蝌蚪APP
The 小蝌蚪APP 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 Acadiana小蝌蚪APP檚 economy through the preservation and promotion of the region小蝌蚪APP檚 Cajun and Creole cultures. The 小蝌蚪APP is involved in major cultural events, such as the annual Festivals Acadiens et Cr茅oles and the yearly Festival International de Louisiane.
Community service performed by UL Lafayette students, 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 firm小蝌蚪APP檚 report. Unless otherwise noted, they are based on fiscal year 2015 data.
小蝌蚪APP 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.
小蝌蚪APP UL Lafayette graduates increased Acadiana小蝌蚪APP檚 gross domestic product by about 9 percent, which is nearly $2.6 billion.
小蝌蚪APP The 小蝌蚪APP invested $56.5 million in construction projects, directly supporting 424 full-time-equivalent jobs in Acadiana.
小蝌蚪APP UL Lafayette spent $40.1 million on purchases of goods and services from Louisiana businesses.
小蝌蚪APP The 小蝌蚪APP employed 1,919 people, excluding students; 92 percent held full-time positions.
小蝌蚪APP 小蝌蚪APP, student and visitor spending supported 5,525 jobs and had an overall economic output in Lafayette Parish of $492 million.
Read the complete study .