Washington, D.C., Area Consortium Universities Support Almost 200,000 Jobs in Region

WASHINGTON, May 31, 2011 /PRNewswire/ -- Washington, D.C., area universities are a major source of jobs and income in the region, with an economic impact as critical as that of the hospitality industry, according to a study authored by Stephen S. Fuller, director of the Center for Regional Analysis at George Mason University.

And while job growth in the federal government sector is expected to stall, the area's education sector continues to be among the most robust, according to the study, commissioned by the Consortium of Universities of the Washington Metropolitan Area. Consortium-member universities, the largest private employers in the District, add $11.3 billion to the regional economy each year, the study says. The consortium is made of up 14 postsecondary institutions located in the District of Columbia, Maryland and Virginia. The study, Capital Assets: Economic Impact and Beyond, will be released Thursday, June 2 at a 10 a.m. press conference at the D.C. Chamber of Commerce.

"This comprehensive study demonstrates the beneficial impact of our universities on the economic, cultural and community health of the greater Washington region," said The George Washington University President Steven Knapp.  "It also shows that the region's universities are major employers, directly and indirectly supporting almost 200,000 jobs. Together, we are the largest private employer in the District of Columbia."

Universities are a major draw for employers looking to hire top talent. And students who attend D.C.-area universities—many of whom come from other parts of the country—are very likely to stay after graduation, increasing both the intellectual and economic power of the region, according to the study.

While in school, area college students provide more than 600,000 hours of public service to the community annually, the study says. And universities bolster the cultural environment and research and development as well. According to the study, local college campuses boast 10,000 seats in venues that host live theater performances; there are 11 art galleries on local college campuses; and local research and development is funded through $21 billion in federal research dollars.

"Consortium university students contribute while in school with community service projects, educational activities and legal clinics," said Consortium President and CEO John Childers. "As alumni, they contribute to the economic growth and vitality of the region."

The impact study is the largest ever commissioned by the consortium. The Center for Regional Analysis at George Mason University conducts research and analytical studies on economic, fiscal, demographic, housing and social and policy issues related to the current and future growth of the D.C. region.  

Kim Griffo, executive director of the International Town and Gown Association, said it has never been more important than now for universities to work together by explaining the economic linkages to their host cities and be explicit in what the economic interactions look like.

"It is vital that host cities have a clear understanding of the total 'dollars' that this study provides; it captures the most detailed inventory of economic contributions and the character of place," Griffo said. "To have a study of this magnitude take place in D.C. is tremendously important so legislators from across our nation have a full understanding of the importance of living, learning economies, to work with them and not smother and stifle these economic engines with budget cuts."

Some facts:

• Consortium university employees living in the region earn $3 billion annually.
• There are 154,000 students enrolled in consortium universities, supporting 70,000 faculty and staff.
• 63 percent of consortium university students moved to the Washington region to attend college.
• The Washington-area economy grew by $2.14 for each dollar spent by consortium members.
• 76 percent of jobs posted online in the District require a college degree. The mean income of D.C. residents with a bachelor's degree in 2009 was $56,014.
• The unemployment rate for college graduates living in the District is 4.2 percent, compared to 19 percent for those with only a high school diploma.
• Every dollar spent by a D.C. consortium university resulted in an additional $1.39 for the city's economy.

The consortium is a powerful force for the advancement of higher education in and around the nation's capital. Consortium institutions educate students from all 50 states and more than 14,000 students from around the world. Students and faculty from over 150 countries and all continents can be found here. Consortium universities are also an unsurpassed intellectual resource, with some of the world's foremost authors and scientists teaching on consortium campuses. The variety of offerings of the member campuses, coupled with the resources of the nation's capital, create a unified campus of unequaled intellectual activity and cultural diversity.

*The Consortium of Universities of the Washington Metropolitan Area is made up of 14 universities and colleges including, in the District, American University, Howard University, Georgetown University, The George Washington University, the University of the District of Columbia, The Catholic University of America, Trinity Washington University, Gallaudet University, the Corcoran College of Art+Design, National Defense University and National Defense Intelligence College; in Maryland, the University of Maryland; and in Virginia, George Mason University and Marymount University.

Consortium of Universities of the Washington Metropolitan Area

SOURCE Consortium of Universities of the Washington Metropolitan Area