News From Terre Haute, Indiana

Local & Bistate

Discussion

Welcome to our online comments feature. We welcome your thoughts and your opinions, including unpopular ones. We ask only that you keep the conversation civil and clean. We reserve the right to remove comments that are obscene, racist or abusive and statements that are false or unverifiable as well as posts that are attacking other users. Repeat offenders will be blocked. You may flag objectionable comments for review by a moderator.
comments powered by Disqus
September 7, 2012

Study: ISU’s financial impact exceeds $519M statewide

Sue Loughlin The Tribune-Star

TERRE HAUTE — Indiana State University’s impact on the Terre Haute area economy exceeds $400 million a year, according to a new study presented to the university’s board of trustees Thursday.

Statewide, ISU’s economic impact is about $519 million.

The study by Indianapolis-based Thomas P. Miller and Associates found $309.3 million in direct university-related spending during fiscal 2011.

Using what university officials describe as a “very conservative multiplier,” the study found ISU accounted for $518.6 million in total impact statewide, with an estimated $406 million of that amount in the Terre Haute region.

ISU-related expenditures, both direct and indirect, support a total of 5,020 jobs statewide, with about 4,200 of those jobs in the Terre Haute region.

“Clearly ISU has a significant impact on the economy of the state of Indiana and particularly the Terre Haute region,” said Chris Pfaff, director of ISU’s Business Engagement Center.

The study took into account the operating and auxiliary expenses of the university and the ISU Foundation and the spending power of more than 1,800 university employees as well as students, retirees and campus visitors.

The university and foundation accounted for 68 percent of the $309.3 million in direct expenditures, students 22 percent, retirees 8 percent and campus visitors 2 percent. Capital projects by the university accounted for $28.3 million.

 In fiscal 2011, ISU employed 1,813 faculty and staff, with total compensation of $109.4 million, making it the third largest employer in the region after Union Hospital and the Vigo County School Corp.

The Terre Haute region consists of Vigo, Vermillion, Clay, Sullivan and Parke counties.

“Indiana State University is proud of the role it has in building the local, regional and statewide economies,” university President Dan Bradley said in a news release. “Partnering with the city and others, Indiana State hopes to continue to be a catalyst for development of Terre Haute’s downtown and riverfront areas while working to advance the quality of life for our students and residents of the Wabash Valley and the state of Indiana.”

The study also looked at ISU’s commitment to community engagement and found that faculty, staff and students contributed 1 million service hours during fiscal 2011. Based on the national minimum wage, the study estimated the total value of that service at $8 million.

While the study did not break down the dollar impact of university events, it found that Hulman Memorial Student Union, Hulman Center, Tirey Hall and University Hall Theater hosted 5,120 separate events. It also noted that the Terre Haute Rex Baseball team, which plays its home games at Bob Warn Field at Sycamore Stadium, is owned by the ISU Foundation.

“When you look at all the events, whether sporting or cultural, in addition to the economic impact, you’ve got an institution that lends so much to this community that would not otherwise exist without ISU,” Pfaff said.

With ISU’s enrollment the highest it’s been in nearly 20 years, it’s likely the economic impact has increased since fiscal 2011, Pfaff said.

“As ISU grows and we have successes in our enrollment and strategic plan goals, we will continue to have a positive impact on both the state and Terre Haute region,” Pfaff said.

With its campus just 7 miles from the state line, ISU’s economic impact is not limited to Indiana. The study found the university contributed $3.7 million in wages and pension benefits to employees and retirees in Clark and Edgar counties in Illinois, leveraging an additional $1.5 million in spending and supporting an additional 51 jobs in the two counties.

While the study did not calculate a margin of error, it is “very conservative” in its estimates, said Karl Burgher, ISU chief strategy officer.

The study cost ISU $35,000.

Sue Loughlin can be reached at 812-231-4235 or sue.loughlin@tribstar.com.

Text Only | Photo Reprints
Local & Bistate
Latest News
Community Calendar
Loading…
Events by eviesays.com
TribStar.com Poll
AP Video
Raw: Tornado on the Ground in Oklahoma Raw: Rescue Workers Search Oklahoma School Raw: Aftermath of Massive Tornado in Oklahoma Raw: Massive Funnel Clouds in Oklahoma Huge Tornado Kills Dozens Near Oklahoma City Raw: Rescuers Pull Tornado Survivors to Safety Raw: Widespread Destruction in Moore, Okla. Oklahoma Gov: 'Hearts Are Broken' After Tornado Raw: Walking in a Flattened Okla. Neighborhood Active Search for Utah Missing Mom Ends Voters Could Elect LA's First Female Mayor Raw: Witness Describes Scene After Okla. Tornado Raw: Suspects Butt Dial 911, Lead to Arrest Raw: House Burns After Massive Oklahoma Tornado Pug Life on Display at Wisconsin Festival Split-second Choice Ended With NY Student Dead MLB Hoping for Large Replay Expansion in 2014 White House Backs 'Shield Law' for Media Horse Saved From Slaughter, Goes on to Win Big Raw: Japan's WWII Atrocities Under Fire in Seoul
NDN Video
RAW: Massive tornado strikes Oklahoma Okla. tornado survivor finds dog buried alive under rubble Pickler's Dance Moves Cause A Stir Obama to tornado survivors: The country stands beside you Reporter Cries Over Devastation Sneak Peek: 'Modern Family' Says Good Bye Trailer: 'The Last Stand' Available on Blu-ray Disc, DVD, Digital Download IWitness Look at Moore, OK Tornado RAW: Moore, OK tornado touches down near school Robert Pattinson Moves Out RAW: Russian dash cam catches car 20 feet in the air Oklahoma tornado survivor: "Everything is gone" Khloe Lashes Out at Kim Kardashian's Critics Couple Argues As Woman's Lover Crawls Out Window RAW: Brad Paisley Forgets Lyrics To His Own Song Justin Bieber Gets Booed RAW: TV Staff Take Cover From Tornado New 'Anchorman 2' Trailer, Drake Joins List of Rumored Cameos Eva Longoria's Wardrobe Malfunction Heat Star Dwyane Wade Surprises Coral Gables Teen At Prom
Parade
Magazine
Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity
Real Estate News