IU retained Tripp Umbach, a leading economic development impact analysis firm, to measure the economic, employment and government revenue impacts of operations and research of all of its campuses and affiliates, including IU Health. The results are published in the report, “Economic Engine for Indiana: An Economic Impact Analysis.”
“Indiana University East is a lead economic engine for the eastern part of the state, and we have a responsibility to the region to continue to grow educational and economic opportunities for its residents,” said Chancellor Nasser Paydar. “The contributions IU East makes to eastern Indiana in terms of economic, employment and government revenue will only continue to increase as the university continues to grow.”
IU East has experienced significant enrollment growth since 2007, with continued record-breaking enrollment figures. As a direct result, IU East is in the process of hiring 40 full-time faculty, administrators and professional staff to further enhance the campus’ mission as a comprehensive bachelor’s and master’s degree institution.
The study revealed that IU East’s employment impact included 377 direct jobs and another 325 indirect or induced jobs. As a result of IU East’s operations, a total of 702 jobs were supplied in 2011 for the state of Indiana.
Not only does IU East benefit the state economically and through employment, faculty, staff and students provide more than $3.7 million annually in charitable donations and volunteer services including:
• $820,000 donated to local charitable organizations by IU East faculty, staff and students.
• Nearly $2.9 million in value of volunteer time provided to area communities by IU East faculty, staff and students.
About the report
IU commissioned Tripp Umbach in 2011 to produce the economic impact report to provide a comprehensive independent analysis of economic activity associated with the university and IU Health. The cost of the study was $75,000.
Tripp Umbach is the national leader in providing economic impact analysis for universities, health care organizations and academic medical centers. The company has completed more than 150 economic impact studies over the past 20 years, including for a number of other Big Ten universities and IU peer universities, including The Pennsylvania State University, The Ohio State University, the University of Iowa and the University of Washington.
Tripp Umbach was asked to measure the economic, employment and government revenues generated by the university and IU Health, including indirect and induced economic activity. Tripp Umbach used data supplied by IU and IU Health, and its affiliates, and calculated the economic impact using IMPLAN modeling software created by the Minnesota IMPLAN Group.
The economic impact figures used in this report include spending on goods, services and taxes within Indiana by IU, IU Health and individuals and organizations that do business with the university and the health care system. The figures reported by Tripp Umbach represent only economic impact in the state of Indiana. Spending associated with IU and IU Health that occurred outside the state or country was not included.
The full report is available at http://innovate.indiana.edu/impact. For more information, visit iue.edu.