California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The University of California, Merced has contributed nearly $456 million
in direct economic value to the San Joaquin Valley since the beginning of
operations in Merced in July 2000.

Through August 2009, UC Merced has paid $269 million in local wages, awarded
$90 million in construction contracts to local firms and purchased $97 million
in goods and services from local suppliers.

Statewide, the university's economic contribution over the nine-year period is
nearing the $1 billion mark.  In addition to the $456 million spent in San
Joaquin Valley, the total includes $109 million in goods and services purchased
from firms outside the Valley, and $384 million in construction contracts awarded
to firms outside the Valley.

The university's economic contribution will continue to grow in the coming years
as the campus expands to accommodate rising student enrollment.  UC Merced is on
pace to reach the 5,000 mark by 2013.  Total student enrollment is expected to
reach approximately 25,000 students at full build out within 30 years.

UC Merced currently has approximately 976 employees (excluding student employees)
and a monthly payroll, including gross wages and benefits, of approximately $6.7
million.  With the vast majority of its employees residing within the Valley and
purchasing goods and services locally, the economic impact is multiplied several
times over by the ripple effect.

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