Faith Based Institutions Contribute $7.9 Billion to the California Economy

May. 1, 2018 By Biola Staff

(Washington, D.C.) Biola University was represented in a study conducted by Philadelphia-based consulting firm Econsult Solutions, Inc. which describes the economic, societal and community impacts of 16 California institutions in the Council for Christian Colleges & Universities (CCCU). At a time when higher education is under heavy scrutiny for its proposed value to society, CCCU institutions throughout California are living out their organizational values in ways that help their graduates contribute to society.

 

CCCU’s 16 California institutions make a significant impact on the state economy through their annual operations and capital investments. This economic impact in turn produces meaningful tax revenues for the state of California. Importantly, CCCU institutions like Biola are also connected with, invested in and beneficial to their home communities, producing economic, social and quality-of-life gains in local communities throughout the state.

 

CCCU institutions represent a broader contribution to a pluralistic society, in which a diversity of perspectives collectively work towards stronger, healthier and more inclusive communities.

 

Key Findings from the Report:

  • CCCU institutions are major engines of economic activity within the state, generating $7.9 billion in total economic output on an annual basis.
  • CCCU institutions support more than 45,000 jobs and $2.5 billion in earnings, generating $372 million in state tax revenue.
  • Collectively, the 16 institutions spend about $1.8 billion a year on operations and capital investments, and directly employ more than 10,000 people.
  • CCCU institutions attract and retain more than $500 million in ancillary student spending within the state economy.
  • More than 200,000 CCCU alumni estimated to be within the state’s workforce are earning an extra $2.86 billion a year as a result of the education and credentialing they received at a CCCU institution.

For additional information and to access the full report, visit cccu.org/economic-impact/.

 

Biola University is a leading Christ-centered university in Southern California that offers a premier, nationally ranked education and has been named one of the nation's "up and coming" universities by U.S News & World Report four times in five years. Founded in 1908, Biola is committed to the mission of biblically centered education, scholarship and service — equipping men and women in mind and character to impact the world for the Lord Jesus Christ. With more than 6,300 students at its Los Angeles-area campus, the university offers more than 150 academic programs through its eight schools, ranging from the B.A. to the Ph.D.

 

Please visit Biola's website if you're interested in learning more about the programs offered and the application process.

 

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