by Geoff Larcom, Published September 23, 2009
YPSILANTI - Eastern Michigan University’s annual impact on Michigan’s economy was $3.7 billion in 2008, reflecting a return of $42 for each dollar received from the state. This annual impact includes $166 million in state tax revenue, equal to $1.87 for each dollar received from the state.
Those are just several snapshots from a report that details the broad role Eastern Michigan plays beyond its campus. The report, entitled “Economic And Social Impact Of Eastern Michigan University, 2008” can be found at emich.edu/impact.
Among the other details contained in the report:
* Eastern’s operating budget and construction spending have an impact on the regional economy of more than $1.5 billion per year.
* Eastern students spent an estimated $112 million for off-campus expenses in 2008.
* Nearly two thirds of EMU’s annual payroll of $179 million is earned by employees who live in Washtenaw County.
* Retirees of Eastern living in Michigan earned an estimated $24.8 million in 2008, generating $1.5 million in state taxes.
* Eastern sponsored or hosted more than 2,200 events, programs and activities in 2007-2008 that involved more than 900,000 attendees.
*Eastern partnered with more than 800 different organizations to engage in community service activities.
* Ninety one percent of EMU’s 22,000 students come from Michigan, and 75 percent of Eastern’s graduates live in Michigan, contributing to the civic, social and economic growth of the state.
The report was prepared by Raouf Hanna, head of the Department of Economics; Andrea Jaechel, associate vice president, business and finance; and Charles Monsma, professor of political science.