Pennsylvania State University in fiscal year 2017 contributed more than $11.6 billion to the state’s economy and, directly and indirectly, supported more than 105,000 jobs, according to study by David Swenson.
Swenson acted as a private consultant for the study and is an associate scientist in the Department of Economics at Iowa State University.
Additionally, for every $1 in state appropriations received by the university, $1.24 in tax payments was returned.
Because there are 24 campuses statewide, the economic contributions are distributed to multiple communities.
Swenson used a best-practice model, endorsed by the American Association of Universities and the Association of Public Land-Grant Universities, to measure annual economic contributions.
“This study represents a solid baseline for measuring Penn State’s economic contributions using established models,” Penn State President Eric J. Barron said. “In addition, there are many other critical, positive impacts that Penn State has on the lives of Pennsylvanians that go beyond the measures used in such studies.”
More than 75 percent of Pennsylvanians live within 15 miles of a Penn State campus and 95 percent live within 30 miles.
The university has more than 30,000 students and employing more than 8,000 full- and part-time faculty and staff members statewide.