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Friday, 27 April 2018 13:55

GVSU reports nearly $850 million economic impact

Written by  MiBiz Staff
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GVSU's Raleigh J. Finkelstein Hall in Grand Rapids. GVSU's Raleigh J. Finkelstein Hall in Grand Rapids. Courtesy Rendering

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.

Read 719 times Last modified on Wednesday, 09 May 2018 22:01

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