IU South Bend delivers $364 million impact on region, high return on investment for students and the community
Indiana University South Bend created $364.1 million for the regional economy in FY 2018-19, benefiting the area by educating citizens, enriching arts and culture, enhancing policymaking, developing sustainable infrastructure, and promoting economic growth.
Expressed in terms of employment, IU South Bend’s impact supported 6,476 jobs, according to the results of a new economic impact study released last week. The Economic Value of Indiana University study also reported:
- One out of every 77 jobs in the IU South Bend service area is supported by the activities of IUSB and its students.
- For every $1 students invest in their education at IU South Bend, they will receive $4.30 in higher lifetime earnings.
- For every $1 students invest, taxpayers gain $1.40 in return over the course of the students’ working lives through added tax revenue and public sector savings.
- For every $1 students invest, society gains $9.20 in added state revenue and social savings
The average bachelor’s degree graduate from IU South Bend will see an increase in annual earnings of $21,000 over their working lives compared to someone with a high school diploma working in Indiana. This is especially compelling for IU South Bend students, as IUSB was recently ranked in the Top 50 for social mobility among regional universities in the Midwest by US News 2021 Best Colleges.
“The results of the study illustrate the positive impact that IU South Bend has on our students and our communities,” said Chancellor Susan Elrod. “As IU South Bend graduates give back through their volunteer work, leadership, and philanthropic contributions, they enrich the civic, social and economic life of their communities. We’re proud to be such a vital partner in advancing these important outcomes for the South Bend region.”
Other regional economic impact highlights from the study:
- $311.5 million: impact of the increased earnings of IU South Bend alumni and the businesses they work for
- $45.8 million: impact of IU South Bend’s annual payroll operations and other spending
- $6.1 million: impact of the daily spending of IU South Bend students attracted to or retained in the region
The study was commissioned by Indiana University and conducted by Emsi, a leading provider of economic impact studies and labor market data to educational institutions in the U.S. and internationally. Applying a conservative methodology and using only the most recognized indicators of economic impact and investment effectiveness, the study examined the economic impacts of IU’s spending across the state’s major industries and the costs associated with IU educational activities from the perspective of students, taxpayers, and society at large.