MERCED — University of California, Merced, has directly contributed more than $1.4 billion to the San Joaquin Valley economy and more than $2.6 billion to the state’s economy, according to its annual Economic Impact Report released today.
The school’s major contributions come from wages and benefits, construction contracts, research expenditures and the purchases of goods and services.
“We are proud to be part of this community and the future is looking brighter than ever,” said Chancellor Dorothy Leland in a press statement. “UC Merced is gaining a national reputation for student success, academic distinction, research excellence, sustainability and affordability, and we are enriching the Valley while transforming our students’ lives.”
Here is a breakdown of the university’s economic impact:
- Employees: 3,300
- Payroll in August: $14.31 million
- Research expenditures, increasing spending in the local economy to more than $172.82 million
- Local purchases, contracts and wages since 2000: more than $1.44 billion
- Statewide purchases, contracts and wages since 2000: more than $2.64 billion
UC Merced plans to double its campus capacity with the Merced 2020 Project, which began construction this fall. The four-year project will add 1.2 million gross square feet of academic, administrative, residential and recreational facilities to accommodate a projected enrollment of 10,000 students.
The expansion will add 400 permanent faculty and staff positions and many more jobs within the local community, and is expected to generate $1.9 billion in regional economic impact and $2.4 billion statewide over the next four years, the school said.