UO big player in economy, research finds.Byline: SHERRI BURI BURI Bastyr University Research Institute (Washington) McDONALD The Register-Guard CORRECTION (ran 12/06/02): Off-campus expenditures by University of Oregon The University of Oregon is a public university located in Eugene, Oregon. The university was founded in 1876, graduating its first class two years later. The University of Oregon is one of 60 members of the Association of American Universities. students last academic year totalled $145 million. An economic impact study by the UO contained an incorrect figure for the expenditures. The study's findings were outlined in an article in Wednesday's newspaper. Anyone who viewed the University of Oregon as a monolith dependent on state handouts will be surprised by a new study that offers the most detailed look to date at the university's economic impact statewide. The research, prepared for the university by UO economics professor Larry Singell, portrays the UO as an economic powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. that receives only 20 percent of its revenues from state appropriations. The study also notes that, with 3,759 full-time equivalent Full-time equivalent (FTE) is a way to measure a worker's involvement in a project, or a student's enrollment at an educational institution. An FTE of 1.0 means that the person is equivalent to a full-time worker, while an FTE of 0.5 signals that the worker is only half-time. workers, the UO is the state's 18th largest employer. The university's revenues exceeded $351 million and spending surpassed $336 million last academic year, the study said. The university's economic punch is even more powerful when Singell applies the "multiplier effect Multiplier Effect The expansion of a country's money supply that results from banks being able to lend. The size of the multiplier effect depends on the percentage of deposits that banks are required to hold on reserves. ," - the idea that direct jobs and spending at the UO help create additional indirect jobs and spending elsewhere in the state. All told, Singell concludes that education is a relatively safe investment that appreciates in value. University administrators plan to use the study to make the case for higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. when the Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. Legislature and Gov.-elect Ted Kulongoski Theodore R. "Ted" Kulongoski (born November 5 1940, in rural Missouri[1]) is an American Democratic politician. Since 2003, he has served as the Governor of Oregon. He was re-elected in 2006. are making tough budgetary decisions in the coming legislative session. "We think it's important that they have the best information possible when they're making those decisions," said Allan Price, vice president for university advancement, which co-funded the $10,000 study. "So many times when people think about government spending Government spending or government expenditure consists of government purchases, which can be financed by seigniorage, taxes, or government borrowing. It is considered to be one of the major components of gross domestic product. , it's only in terms of dollars going out, and we don't talk much about the return the state gets from higher education." After crunching the numbers, Singell concludes that every dollar the state contributes to the UO results in about $10 in direct and indirect expenditures throughout the state. He also describes the long-term boost in state income taxes when students graduate, earn higher wages and, as a result, pay more income taxes. Each dollar the state contributes to the UO results in a $1.60 return over time, Singell said. These are among Singell's other findings: The UO generated more than $351 million in revenues last academic year. Only 20 percent, or $71 million, were state appropriations. The rest were derived from such sources as tuition For tuition fees in the United Kingdom, see . Tuition means instruction, teaching or a fee charged for educational instruction especially at a formal institution of learning or by a private tutor usually in the form of one-to-one tuition. and fees, gifts, grants and contracts, and auxiliary auxiliary In grammar, a verb that is subordinate to the main lexical verb in a clause. Auxiliaries can convey distinctions of tense, aspect, mood, person, and number. enterprises, such as the UO Bookstore, catering services and some athletic-related activities. The UO spent more than $336 million last academic year. Most of that outlay paid for employee wages and benefits. The UO also bought more than $170 million in goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . More than 64 percent of purchases are from vendors in Oregon. Applying the multiplier effect, UO expenditures are expected to result in a total of $703 million spent throughout the state, generating at least $16 million in additional state income taxes annually. The UO's work force of 3,759 employees does not include more than 2,700 undergraduates with part-time campus jobs. Nearly 40 percent of the work force are faculty and administrators. Applying the multiplier effect, the UO is responsible for a total of 8,071 jobs in Oregon - 3,759 at the UO and 4,312 elsewhere. Based on the 8,071 total figure, the UO accounts for nearly 7 percent of the total Eugene-Springfield work force and almost 0.7 percent of total Oregon employment, Singell found. He also calls the UO one of the state's most stable employers because higher education is not as sensitive to economic shocks as other industries and much of the UO's funding is generated from out of state. MONEY MACHINE: UO ECONOMIC IMPACT Revenues, 2000-01: More than $351 million, including $108.2 million in tuition and fees, $71.4 million in state funding, $89.8 million from auxiliary enterprises and $81.5 million grants, gifts and contracts Expenditures, 2000-01: More than $336 million direct spending by UO; plus an estimated $14.5 million off-campus spending by UO students Jobs: More than 3,759 full-time equivalent workers, plus more than 2,700 undergraduate part-time campus workers State taxes: A single UO graduating class will generate more than $121 million in state income tax revenue over their careers More information: The study will be available later this week at http://comm.uoregon.edu/news/ - The University of Oregon |
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