In a recently updated study of its economic contribution to the commonwealth, the Pennsylvania State System of Higher Education documented an impact in the 2003-04 fiscal year of just under $4.47 billion. IUP is the largest of the fourteen universities that compose the System.
According to the State System, its “universities serve as economic engines for their regional economies, directly injecting millions of dollars into Pennsylvania’s economy at the local and county level and billions statewide.” For every dollar invested in the State System by the commonwealth, the study asserts, the universities return more than ten dollars in economic impact.
“In addition to bringing in dollars to the state and local economies,” the study notes, “each [System] university has a substantial economic impact on employment within Pennsylvania.” The System and its universities were reported to be directly or indirectly responsible for more than 51,000 jobs across the state.
For Indiana County, the total in-county economic impact (direct and indirect) of IUP was pegged at $201,865,428. However, because many university faculty and staff members live in other counties (and the university maintains campuses and centers in them, as well), the university’s impact extends well beyond the county line.
The study’s executive summary is available on the State System’s website (PDF file opens in separate window).