A new report found that Long Beach State University has a $1.53 billion impact on local economies.
Beacon Economics, an independent research and consulting firm, conducted the study as a way to measure the economic and fiscal impacts of LBSU on the greater Long Beach community.
“California State University, Long Beach is a sizeable institution with a significant impact on the local economy,” the report stated. “This analysis quantifies the university’s impact in terms of increased economic output, employment, employee compensation and tax revenue. Together, the economic, fiscal and social impacts illustrate just how important CSU Long Beach is to the city and counties surrounding it.”
The analysis concluded that LBSU had a $1.14 billion impact on Los Angeles County, supported 10,600 jobs and contributed $546 million in tax revenues. Additionally, 76 percent of employers hired interns from LBSU and 245 Long Beach establishments are owned by LBSU alumni.
Campus president Jane Close Conoley praised the report and its findings in a press release.
“Students who graduate from Long Beach State, their median income a few years after graduation is nearly $100,000. So, think of that in terms of contributions to the economy,” Conoley said. “I am really proud to be at such an extraordinary university where we are among the top 10 in the nation in accelerating the social mobility of our graduates.”