UC San Diego remains an economic powerhouse in San Diego and beyond, even as other parts of the economy weather hard times, according to a study released by the university yesterday.
JIM BAIRD / Union-Tribune
The Geisel Library, flanked by a statue of Dr. Seuss and his Cat in the Hat, is a notable sight at the University of California San Diego.
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According to the report, the University of California campus contributes $5.7 billion in direct and indirect spending and personal income to the local economy.
And it continues to be a wellspring of wealth and ideas, the study says. More than 33,600 local jobs are tied to the university, while research on campus has helped spur the creation of dozens of companies across the state.
UCSD Chancellor Marye Anne Fox said the report underscores the importance of the La Jolla institution, especially given the uncertainty over the economy.
“Just think how wobbly it would be if UCSD disappeared,” Fox said. “These are real financial contributions to the area that bring an improved quality of life.”
The 98-page study was conducted by CBRE Consulting Inc. of San Francisco. It was commissioned by UCSD officials at a cost of $130,000.
Campus officials said that previously publicized studies on UCSD's economic impact were usually conducted internally. The CBRE study was meant to provide a more detailed and independent analysis.
Drawing on fiscal year 2006-07 data, the company examined the financial impact of academic programs, UCSD Medical Center, faculty research, student and visitor spending and other direct and indirect impacts.
The study says every dollar in direct spending at UCSD generates an additional 92 cents in indirect spending in the county.
It says the campus contributes $7.2 billion to the statewide economy in personal income and direct and indirect spending.
The report identifies 67 startup companies across the state, including medical and high-tech firms, that grew out of research done on campus.
Marney Cox, an economist with the San Diego Association of Governments, said CBRE used a credible and widely accepted methodology to calculate UCSD's broad impact.
He said the report, however, doesn't do full justice to UCSD's impact as an idea generator. He noted that basic research conducted on campus has fueled the region's biotech, defense and wireless communications industries.
“That's a component that's difficult to capture on paper,” Cox said.
Steve Schmidt: (619) 293-1380; steve.schmidt@uniontrib.com
