Illinois State University contributes about 7.5% of the McLean County. Hasan Mohammedi of ISU's economics department is one of the people who did a study that also shows direct and indirect employment from the University topping 8,900 jobs. Mohammedi released the study at ISU's community partners breakfast.
"The primary goal here is to gladly learn and teach. However, while you are doing that you serve your community and as a primary engine of growth for the community," Mohammedi said.
Mohammedi says other ways to slice the data include nearly $224 million in faculty, staff, and student payroll at ISU and another $143 dollars in operating and capital expenditures.
Data used for the study come from last year. The calculation doesn't include the impact of sporting events, concerts, cultural events, and parent and graduation weekends which bring visitors to the community. Mohammedi says they wanted to focus on the economic activity dedicated solely to ISU.
Illinois State University is a huge economic engine in McLean County. That's according to a new study released during a community partners breakfast showing more than 6,600 jobs and 554 million dollars from the campus. Mohammedi says that's just the direct impact. There's an indirect amount of the economy ISU enables too....
"Businesses that generate this output have to buy inputs from other industries and to the extent that they buy these inputs from local businesses that creates additional jobs in the community," Mohammedi said.
The study shows secondary employment is another 2,200 jobs and $279 million in economic activity.
The total economic impact from ISU in 2015 was $832,753,367
