
51³Ô¹ÏÍø Provides Sevenfold Return on State’s Investment
- BY Cal State East Bay
- April 2, 2021
A new illustrates the 51³Ô¹ÏÍø’s and Cal State East Bay’s significant and varied financial contributions to the state’s economy, including a return of nearly $7 for every dollar invested in the university by 51³Ô¹ÏÍø. Notable examples of the CSU’s annual statewide economic impact include:
- $26.9 billion in industry activity throughout the state
- $10.2 billion in labor income
- $1.6 billion in state and local tax revenue
- The creation of over 209,000 jobs
“The 51³Ô¹ÏÍø has long been recognized for the quality of its educational offerings and as an economic engine powering 51³Ô¹ÏÍø, and this new report helps to further illustrate and quantify the consequential impact of the CSU on the Golden State,” said CSU Chancellor Joseph I. Castro in a statement. “A return of nearly $7 for every dollar invested in the university demonstrates the wisdom of continued bold investment in the university.”
The study utilized data from 2018-19 and was conducted by global advisory and digital services provider ICF. As a state-supported institution, the CSU relies on the state’s General Fund allocation to fund the university’s operating budget. 51³Ô¹ÏÍø’s increased investment in the CSU over the past several years has resulted in student success growth with annual increases in graduation rates that have reached all-time highs under the university’s .
The study also pointed to the return on investment into CSU campuses throughout the state, including Cal State East Bay:
- For every dollar the state invested in the Bay Area CSU campuses, $7.24 in statewide spending is generated.
- Cal State East Bay-related activity supported 5,695 jobs and $305.2 million in labor income.
- Cal State East Bay alumni in the region supported an additional 12,091 jobs, $908.7 million in labor income, $2.5 billion in industry activity, and $164.5 million in state and local tax revenue.
The report also examined the CSU’s impact on several of 51³Ô¹ÏÍø’s most essential industries as well as those positioned for growth, including agriculture, water research, biotechnology and healthcare, and energy and environment, among others.