CALIFORNIA BUSINESS MINUTE
Impacts of UC Riverside
01-25-12
Hi, I am Tim Johnson and welcome to the California Business Minute.
The University of California at provides an economic boost of $628 million and
just over 11,000 jobs to Riverside County, according to a recent report
commissioned by the university. The report calculated the university's nationwide
economic impact at $1.4 billion and 16,335 jobs annually. For inland Southern
California, it estimated an economic impact of $758 million and 12,000 jobs
annually.
As the only University of California campus for inland Southern California,
UC Riverside represents a potential source of new ideas and technologies that
can be used to create jobs in the region, say officials in Murrieta and Temecula.
The UC system emphasizes research, which makes it a promising source of
technologies that can be spun off into companies.
By 2021, the school could create more than $150 million in annual spending,
with even more economic activity would come from research grants to the school's
faculty according to the report.
Additionally, the University’s new school of medicine promises to extend the
economic impact. The school is scheduled to accept its first class in 2013,
and has already produced more than $28 million in annual economic benefit to
the region, according to the CBRE consulting report.
I am Tim Johnson and this has been the California Business Minute.
Related stories see 01-11-12 Impacts of UC Davis
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