STEVENS POINT, Wis. (WSAU) — A new report shows the University of Wisconsin Stevens Point has a 420-million dollar economic impact on the region and state. That’s according to NorthStar Consulting, which compiled the data and issued the report.
The UWSP Vice Chancellor of Business Affairs is Greg Diemer. He says the overall economic impact is up slightly from the last report done five years ago, and that a dollar invested in the campus travels through the community several times. “A dollar invested in UW Stevens Point produces 11 dollars back in economic improvement throughout the region and to the State of Wisconsin.”
The university generates $21.2 million in state tax revenue annually, up from $16.7 million in 2011. Diemer says the campus also supports 4,934 jobs on campus and throughout the region. “That (nearly) 5,000 jobs of course is made up of not only those here on the campus, which is about 1,400 of them, but then how that multiplies through the economy through the creation of other jobs throughout private businesses, the non-profit sector, and so on.”
The NorthStar report says, “Direct spending of $269.5 million feeds the economic engine that in turn generates more than $150.5 million in additional economic activity.” More than one-third of the spending is generated by faculty and staff members. Students contribute 27.5 percent, and visitors contribute nearly 17 percent. Spending on university operations makes up 21.5 percent. Private businesses benefit the most, with 92 percent of UW-Stevens Point spending going to them. Local governments and nonprofit organizations also benefit.
Diemer says things have changed over the years. The state used to be the main provider of university resources, but now about 80% of income comes from other sources including business partnerships. Last year, the state accounted for about 16% of UW Stevens Point’s total budget. The Vice Chancellor is concerned that the state budget will force layoffs and other cuts, which could impact the positive economic impact on the community. Diemer says it’s possible they will have to leave positions unfilled and lay off around 100 staff members, depending upon how the final budget bill is written.
(Listen to our interview with Vice Chancellor of Business Affairs Greg Diemer on our website, here.)
