California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.
UCLA directly employs more than 27,000 Southern Californians, making it the
7th-largest employer in the greater Los Angeles region. UCLA-related spending
indirectly supports an additional 42,800 full-time-equivalent jobs in the area
for a regional total of nearly 70,000.

UCLA employee spending sustained 19,800 jobs in the greater Los Angeles region.
UCLA itself spent over $1 billion on operating purchases in fiscal 2005-2006,
generating more than 9,600 additional jobs and $488 million in wages. Spending
by UCLA students added another 6,600 jobs in the region.

More than 2 million visitors attend a UCLA event or tour the campus annually.
These visitors spent nearly $50 million in the greater Los Angeles region last
year, producing 1,200 jobs and approximately $29 million in wages.

UCLA’s economic impact extends beyond the regional economy, sustaining a further
10,600 jobs outside Southern California for a statewide total of nearly 80,600 jobs.
A study by the Los Angeles County Economic Development Corporation estimates that
for every $1 from taxpayers invest in UCLA, the university generates $15 in economic
activity, and thus UCLA-related economic activity generated business revenues of
$9.3 billion in greater Los Angeles during fiscal year 2005-2006.

In FY 2005-06, UCLA had an operating budget of $3.6 billion, 17.4 percent of which
was provided by the state. Regional spending by the university, its employees,
students and visitors totaled $3.9 billion, and spawned another $5.4 billion in
indirect activity through goods and services supplied to the university. Statewide,
UCLA adds a further $535 million in business revenues. This brings university-related
economic activity throughout California to $9.9 billion.

I am Tim Johnson and this has been the California Business Minute.