2009 – 2010 ECONOMIC IMPACT REPORT Making a Difference Loyola University New Orleans positively impacts the Greater New Orleans area in a number of obvious ways: it has provided outstanding Jesuit education for nearly 100 years; it has launched a vast array of high-profile community service and social justice projects; it provides the community innumerable cultural and fine arts venues and programs; its faculty research projects contribute to a variety of academic disciplines, especially in the study of the environment; its seminars, workshops, and continuing professional education provide excellent educational and training opportunities for the community at large; and its continuing national recognition for excellence in higher education enhances the stature of the city of New Orleans in the nation’s eye. What might not be as obvious is the role Loyola University plays as a major business enterprise, with significant impact on the Greater New Orleans and Louisiana economies. It purchases goods and contracts services from a substantial assortment of local companies, and provides salaries to its personnel for investment in the community. It also contributes in less direct—but no less consequential—ways, by increasing the earnings of its graduates, imparting valuable skills upon the local workforce, attracting new businesses, and increasing property values. While not measurable, local businesses also benefit from resident students’ expenditures in housing, utilities, consumer goods, entertainment, and taxes. While some aspects of Loyola’s economic impact are not quantifiable, many of them are. This Economic Impact Report presents the 2009 – 2010 quantifiable impacts of Loyola on its community.
A SIGNIFICANT IMPACT During 2009 – 2010, Loyola’s economic impact amounted to $128.9 million, the majority of which went directly into the Greater New Orleans and Louisiana economies. Loyola’s $28.5 million in direct expenditures included utilities, insurance, debt service, and miscellaneous expenses, along with its $54.4 million payroll and its $15.2 million allotted to employees via fringe benefits. Loyola also received a $35 million bond from the Louisiana State Bond Commission for construction and renovation projects, directly impacting local architects, contractors, material suppliers, and laborers. It is estimated more than 140 jobs are being created to staff the state-bond-funded construction projects.
Information has been provided by the College of Business and the Loyola University New Orleans Carnegie Committee
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