Saturday, September 14

Study finds UCLA’s economic impact of over $11 billion in California


UCLA generated $11.06 billion in economic activity during the 2016-17 fiscal year, not including the indirect impact of startups using UCLA-developed technology, according to a report by Beacon Economics. (Daily Bruin file photo)

UCLA generated $11.06 billion in economic activity during the 2016-17 fiscal year, not including the indirect impact of startups using UCLA-developed technology, according to a report by Beacon Economics. (Daily Bruin file photo)


A study found that UCLA generated over $11 billion in economic activity over the 2016-17 fiscal year.

Beacon Economics consultancy, an independent consulting firm that conducts economic analyses, published the 2018 UCLA Economic Impact Report, finding that UCLA generated $11.06 billion in economic activity, which considers employment, labor income, taxation and product output. The university also supported roughly 72,000 full-time jobs across California during the study’s duration. UCLA is the fourth largest employer in Los Angeles, after LA County, the Los Angeles Unified School District and the City of Los Angeles.

The University of California Office of the President, UC campuses and affiliated groups periodically commission independent reports examining their economic impacts. The last report for UCLA was completed in 2013, according to the UCOP website.

The 2018 study also found UCLA generated $2.61 billion in direct spending in Los Angeles and $5.68 billion across California.

UCLA Health Sciences alone had an economic impact of $6.49 billion on California’s economy, according to the study.

The study noted technology companies licensing UCLA-developed technology has economic impact beyond the university’s direct spending. Twenty four startups launched using UCLA-developed technology during the 2016-2017 fiscal year, according to the study.

 

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Morris is the 2018-2019 assistant News editor for the campus politics beat. She was previously a writer for the campus politics beat. She is also a second-year global studies student at UCLA.


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