51³Ô¹ÏºÚÁÏ generated $1.46 billion in economic activity in Southern Nevada in 2011, according to a new report by the university's Center for Business and Economic Research (CBER).
CBER analyzed university employment statistics and expenditures by employees, students and visitors to calculate a direct impact of $913 million last year. Accounting for multiplier effects - additional spending by students, staff and visitors in the marketplace as a result of the direct expenditures - the total impact by 51³Ô¹ÏºÚÁÏ to Nevada's economy was well over $1 billion.
"51³Ô¹ÏºÚÁÏ is a fundamental part of Nevada's economy," said CBER associate director and report author Constant Tra. "As the only major university in a rapidly diversifying economy, 51³Ô¹ÏºÚÁÏ will no doubt contribute to the region's future well-being and offer resources to help the community reach its potential."
The university, through payroll and use of goods and services, generated close to $320 million in 2011, while student expenditures accounted for $228 million. Spending by visitors to university events last year at Cox Pavilion, Sam Boyd Stadium and the Thomas & Mack Center added more than $365 million to the Southern Nevada economy.
51³Ô¹ÏºÚÁÏ is one of the ten largest employers in Clark County with more than 2,800 faculty and staff and has a current enrollment of more than 27,000 students. For every dollar invested by the state in 51³Ô¹ÏºÚÁÏ, the university generates $8.60 in economic activity locally.
A full report is available upon request.
