A new economic impact report from the Craig School of Business revealed that Fresno State generates around $1 billion in economic activity annually in the San Joaquin Valley.
The big picture: Fresno State and its auxiliaries generate $954 million in business sales on average annually.
- Further, the university generates $391 million in worker income, supporting nearly 11,000 jobs.
- Activities related to Fresno State generate over $49 million in annual tax revenue for California and Fresno, Madera, Kings and Tulare Counties.
- The report also found that the annual rate of return of state support for Fresno State is 6.23%.
Driving the news: Antonio Avalos, the chair of the Economics Department, conducted the economic impact report by researching the total effect of university spending and employment on Central Valley business sales, worker income, job creation and tax revenue.
- The study was based on data from the 2021-2022 and 2022-2023 fiscal years and included student spending.
What they’re saying: Fresno State President Saúl Jiménez-Sandoval said the university is deeply proud to be a catalyst for economic growth in the region.
- “From increasing the earning power and social mobility of our students to educating the innovators, knowledge workers and business creators of the future, Fresno State is the keystone to uplifting the lives of everyone in the Valley,” Jiménez-Sandoval said. “This report confirms the transformational power of Fresno State.”
- Avalos added, “By measuring the ripple effects of a university’s economic impact, which capture business sales and job creation beyond the campus, institutions and policymakers can make informed decisions, justify investments and better understand the broader economic and social benefits of higher education.”
