Immediate
Release
Wednesday, December 6, 2006
USC Provides Economic Output of
$4 Billion In Los Angeles County –
Students Account For More Than $406 Million – According to New Study
.
LOS
ANGELES — The University of Southern California – widely recognized as
one of the nation’s top research universities with highly respected programs in
law, business, medicine, film and, yes, football – has yet another feather to
place in its cap. According to a new
study, USC is responsible for $4 billion annually in economic activity in Los
Angeles County alone.
The University is also the City of
Los Angeles’ largest private employer, providing jobs for 26,446 people during
the last fiscal year. In addition, USC’s
economy activity in turn produced another 16,318 non-USC jobs in the regional
economy. The study, released today,
shows that USC in FY 2005-2006 injected $1.86 billion in total direct spending
into the economy with an estimated additional indirect and induced output from
the University of more than $2.14 billion in Los Angeles County.
The study, “Economic Impact Analysis
of the
The study includes the impacts of USC’s
academic spending; it does not include the direct spending or impacts of USC-affiliated
hospitals. Among the study’s
other findings, for the fiscal year studied:
·
Every
$1 million spent by USC in the region supports 10.6 full-time equivalent jobs
·
For
every dollar spent by USC in LA County, an additional 39 cents of economic
output
was created in the regional
economy
·
USC’s
32,000 students annually spend $406 million in the economy
·
USC
visitors bring more than $12.3 million in direct expenditures to the local
economy
·
USC
capital construction expenditures last year totaled more than $207 million
“The
University has always been an incredible asset to the city and the region as a
whole. Since its founding more than 125
years ago, USC has been there to meet the needs of this ever-growing and ever
more important part of the world,” said Steven B. Sample, president, University
of Southern California. “Today Los
Angeles has a role of global importance – it is the de facto capital city of
the Pacific Rim. USC is better
positioned than ever to significantly impact not only the region’s economy but
the world’s as well.”
“We knew USC is an important economic
engine for
About the University of Southern Californian (USC)
From the surrounding neighborhoods
adjacent to Downtown Los Angeles to around the globe, the University of
Southern California provides public leadership and public service in such
diverse fields as health care, economic development, social welfare, scientific
research, public policy and the arts. USC,
the largest private research university west of the
[Editors note: For a copy of the report or media
interviews please contact George McQuade or Aida Mayo at MAYO Communications,
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