FORT WAYNE, Ind. (ADAMS) – Purdue University Fort Wayne has an $8.9 billion total economic impact on Northeast Indiana annually and fuels 82,450 jobs in the region, according to a new study.
Those findings and others are the results of a new assessment of the university’s operations and workforce enhancement effects on business activity by The Perryman Group, a firm with deep expertise in conducting economic impact studies.
While the majority of Purdue Fort Wayne’s annual economic benefits, not surprisingly, are centered in Northeast Indiana, the study also found that the university has an $11 billion total annual economic impact on the state of Indiana and drives 101,999 jobs a year.
Purdue Fort Wayne’s impact on the region and the state, according to the study, reflects the annual economic benefits of employed graduates living in Indiana when multiplier effects are considered. Approximately 75 percent of the university’s 60,712 alumni—who attended Indiana University–Purdue University Fort Wayne, as the university was previously known—live and work in Indiana.
“This report by The Perryman Group underscores the significant economic impact and benefits that a thriving university can have on its region, its state, and beyond,” says Ronald L. Elsenbaumer, Chancellor of Purdue University Fort Wayne. “While we have long known our university provides extraordinary economic and social benefits, it is gratifying to have the institution’s impact quantified and confirmed by an independent third party.”
Among the highlights of the Perryman Group study:
Ongoing annual economic benefits of $458 million in total expenditures in Fort Wayne from university operations and student and visitor spending.
Total ongoing annual economic benefits of $269.1 million in gross product and nearly 3,350 jobs in Indiana, with benefits concentrated in the Fort Wayne area. This includes $38.2 million and 480 jobs generated in the region by student and visitor spending.
An annual economic impact of $8.9 billion in gross product and 82,450 jobs generated by employed alumni in Northeast Indiana when multiplier effects are included.
A total annual economic impact of $11 billion in gross product and 101,999 jobs generated by employed alumni in Indiana when multiplier effects are included.
“This report clearly demonstrates the tremendous benefit Purdue Fort Wayne brings to Northeast Indiana and the Indiana economy overall,” adds Chancellor Elsenbaumer. “Our alumni, students, faculty, and staff make up a large and highly educated workforce for our region and are constantly advancing innovation and new technologies. Their work helps make Northeast Indiana an attractive place to earn a college degree and pursue a rewarding career.”
The full report by The Perryman Group is available here