Private, Not-For-Profit Campuses Contribute $2.2 Billion To
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MEDIA RELEASE For immediate release, February 15, 2021 Private, Not-for-Profit Campuses Contribute $2.2 Billion to Washington’s Economy More than 22,200 jobs supported by Independent Colleges of Washington member campuses statewide SEATTLE, Washington – Approximately $2.2 billion is the collective annual impact the ten member campuses of Independent Colleges of Washington (ICW) have on the state of Washington’s economy according to a new study released by the statewide membership association. Results are for the most recent year for which full information is available. Dr. Mark Gius, Professor of Economics at Quinnipiac University conducted the study, distilling the economic contribution of the association’s ten member campuses, which include Gonzaga University, Heritage University, Pacific Lutheran, Saint Martin’s University, Seattle University, Seattle Pacific University, University of Puget Sound, Walla Walla University, Whitman College, and Whitworth University. Professor Gius, who has conducted analysis for other organizations including the Connecticut Conference of Independent Colleges as well as the Independent Colleges and Universities of Texas, conducted his analysis based on institutional data along with publicly available data from the U.S. Department of Education. “Results suggest that the member institutions of ICW have a very significant and very positive impact on both state and local economies,” said Gius. “Given that independent colleges are an important and integral part of the state economy, public policies that affect the abilities of these universities to attract and retain quality students, faculty and staff have significant impacts on the overall economic health of the state of Washington.” Gonzaga University Heritage University Saint Martin’s University Seattle University Walla Walla University The economic impact of a college or university can be measured in terms of direct and induced spending. Direct spending includes money spent directly by the institution overall as well as employees, students, and visitors. Induced spending, on the other hand, includes the additional employment and expenditures of local industries that result because of direct spending. The total economic impact is the sum of direct and induced spending. With direct spending exceeding $1.35 billion and induced spending exceeding $834 million, ICW member campuses have an economic impact of nearly $2.2 billion. Further, in the same year, ICW institutions generated more than 22,000 jobs to the state. If considered together, Independent Colleges of Washington campuses would be a top-20 private sector employer in the state. “Independent, private, not-for-profit campuses provide a critical stabilizing effect on local economies,” said Dr. Terri Standish-Kuon, ICW President and CEO. “Students, faculty and staff also contribute significantly through community service activities, as well as research, innovation, and entrepreneurship that directly drives economic development.” With students from each of Washington’s 39 counties and more than 135 years of service to state residents, Independent Colleges of Washington member campuses play a significant role in the state. These campuses award one in five (20%) of the postsecondary degrees earned in Washington, and excel in helping students complete degrees in critical fields such as nursing, education, computer science and engineering. More information about the ICW economic impact study is available here. About the Independent Colleges of Washington – For more than 60 years, Independent Colleges of Washington has promoted educational opportunity through policy engagement, programs, and fundraising partnerships. We are dedicated to helping students pursue their college aspirations, and Washington achieve its post-secondary attainment goals. Every day, we work to promote the essential role of private, not-for-profit, liberal arts-based colleges and universities in bringing quality and diversity to Washington’s higher education ecosystem. Our work to promote equity ensures that all students—including new-majority, first generation, returning adults, low-income, and underrepresented youth—can choose their ideal education environment and graduate prepared to contribute their talents to the state, the nation, and the world. -30- .