Study Shows University Generates $140 Million for Local Economy

Bruin Notes

There鈥檚 no doubt an institution like George Fox can have a significant impact on the surrounding communities. But recent findings by professor Nate Peach and a group of 13 George Fox students detailing the economic impact the university has on Yamhill and Washington counties resulted in a staggering figure: $140 million.

That鈥檚 right, Peach and students in his economic development course determined that George Fox was responsible for approximately $140,065,887 of the local economy鈥檚 income in 2014, including nearly $111 million in 鈥渄irect鈥� spending and more than $29 million in 鈥渋ndirect鈥� spending 鈥� income and jobs created through the spending of students and university employees.

Results were derived using the Bureau of Economic Analysis鈥� Regional Input-Output Modeling System (RIMS II), a standard model applied by economic development practitioners.

The university鈥檚 sources of income and spending in the local economy considered in the report include revenue from undergraduate and graduate tuition, spending on new buildings, undergraduate student spending, capital and operating expenditures, and employees鈥� salaries and benefits. .