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Excerpts from the FY 2005 MICUA
Economic Impact Study
Prepared by the
Sage Policy Group
Economic Impact - $6.6 Billion
MICUA institutions generated $165 of economic impact for each dollar contributed by the State of Maryland.
Meeting Workforce Demands
Many of the MICUA students focused their attention upon subject matter
deemed of great importance to the future of the State’s economy,
including medical sciences, teaching, engineering, computing,
accounting, finance, hotel management, mathematics, business
management, and logistics.
Efficiency and Accountability
The MICUA institutions receiving State assistance are
extraordinarily efficient in terms of leveraging that assistance and
churning out graduates…The ability of these institutions to efficiently
produce degree-holders emerging from specialized undergraduate and
graduate programs lies at the heart of Maryland’s virtually
unparalleled prosperity.
Encouraging Visitors
Separately, student and visitor spending totaled nearly $370
million, with the institutions recording 387,743 visitors in that
fiscal year.
Committment to Diversity
Roughly 90% of the MICUA payroll expenses were paid to employees
residing within Maryland. Of all MICUA institutional employees,
roughly 25% are classified as minorities, approximately the proportion
in Maryland’s overall population.
Generating Jobs
When one accounts for
both direct and multiplier effects (indirect and induced), the sixteen
MICUA State-aided institutions supported a total of 88,750 Maryland
jobs (3.5% of Maryland’s employment) with associated income of $2.9
billion, or approximately $32,700 per job.
Research in a Knowlege Economy
According to survey
results, MICUA institutions applied for a total of 318 new patents in
fiscal 2005, with 274 licenses/options yielding income that year.
Collectively, MICUA institutions attract hundreds of millions of
dollars each year in federal and other research dollars, positioning
Maryland to remain among the world’s most innovative communities.
Revitalizing Communities
Not only do MICUA institutions impact Maryland through employment,
spending, and development of human capital, many support programs that
directly help local businesses and communities, minimize workforce
shortages within the State, and focus on policies and issues that are
vital to Maryland’s future economy….In all, over 60% of MICUA
institutions reported some participation in neighborhood
revitalization.
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