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GVSU's Raleigh J. Finkelstein Hall in Grand Rapids. GVSU's Raleigh J. Finkelstein Hall in Grand Rapids. Courtesy Rendering

GVSU reports nearly $850 million economic impact

BY MiBiz Staff Friday, April 27, 2018 01:55pm

GRAND RAPIDS –– Grand Valley State University has announced the Allendale-based higher education institution had an economic impact of about $849 million on West Michigan over the last year.

The university used a model from Kalamazoo-based think tank W.E. Upjohn Institute for Employment Research that covers Kent, Ottawa and Muskegon counties and is based on data from 2016 and 2017, according to a statement released by GVSU.

The study found that GVSU construction and renovation projects resulted in about $109 million toward the region’s economy.

The university’s faculty and staff totals more than 3,600 employees with salaries coming out to more than $262 million, according to the report.

Additionally, 72 percent of GVSU’s revenue comes from the university’s more than 25,000 students in the area.

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