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CSU drives Colorado economy
By Mike Hooker
Colorado State University – along with its students, faculty, staff, and alumni – contributed more than $465 million in tax revenues to the state of Colorado during a single year, while also helping create 19,000 jobs in the state and spawning dozens of new startup companies through its research programs.
This $465.2 million contribution during 2015 was nearly four times the amount of funding the state of Colorado provided to the University that year. In addition, six of the largest projects in the recent construction boom on campus sparked $560 million in new economic activity, creating the equivalent of 3,602 yearly jobs that persisted during a 2.5-year period.
These are among the key findings of two new studies of the economic and fiscal impact of CSU, and of recent campus construction projects.
The two studies are the result of in-depth analysis commissioned by the University to better understand CSU’s economic footprint on the state. The studies were carried out by University economists, Rebecca Hill, Harvey Cutler, and Martin Shields.
“Simply put, CSU is one of the state’s most important economic growth engines and a cornerstone of Colorado’s economic future,” the authors conclude.
The “Economic and Fiscal Impact Study: Colorado State University” looks at three key areas of impact: higher wages earned by CSU alumni because of their degrees; operational and student spending in the Fort Collins and state economies; and research and innovation at CSU, which strengthen a wide range of Colorado businesses and industries.
“One of the most striking findings was the pervasive impact of the University and its alumni across the state,” Cutler said.