A report by CB Richard Ellis Consulting calculates that UCR produces 5.50 in value to the Inland Empire's economy for every dollar received.

All together, the report estimated that UCR had a $953 million economic impact in the state of California during the 2004-05 academic year. The firm arrived at that number by using industry-standard multipliers to show how direct campus spending ripples through the economy for goods and services it buys, salaries and construction of new buildings.

"I am not surprised to see that the university is a very robust and efficient economic engine for the region," said Chancellor France A. Cordova. "As we continue to expand our own workforce and student enrollment - and with new initiatives such as the proposed School of Medicine and the newly launched Palm Desert center - we expect that UCR will further broaden its impacts and contributions." The Inland Empire and Riverside, Ca will be the recipients of the economic trickle down effect.

The highly skilled graduates of UCR's colleges and schools are perhaps UC Riverside's most significant contribution to the Inland Empire and California economies. Of the 57,740 total alumni of UC Riverside, 46,146, or about 80 percent, lived in the State of California in 2005.

• Of these alumni, nearly 18,000, or about 31 percent, lived in the Inland Empire.
• Each year, UCR graduates add to the pool of skilled labor in the region and throughout the state. In the 2004-05 fiscal year, UC Riverside conferred 3,632 degrees, including 3,080 bachelor's, 393 master's, and 159 doctoral degrees.
• UCR is an important economic engine for the fast-growing Inland Empire, made up of 3.8 million people. The area has about 1.2 million jobs and accounted for more than 50 percent of all job growth in the Southern California region from 2000-2005.

For the full press release please see http://www.newsroom.ucr.edu/cgi-bin/display.cgi?id=1364

Posted at http://www.inlandempire.us/news/2006/12/inland-empire-receives-economic-value.html