California Business Minute™

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

The University of California is a key economic catalyst for the state, generating $46.3
billion in annual economic activity for California and contributing $32.8 billion toward
California’s gross state product through direct spending and multiplier effects,
according to an independent economic impact report released earlier this month.

Put another way, every $1 the California taxpayer invests in UC provides the
foundational support that, supplemented by revenues from other sources, results in
nearly $14 in overall economic output.

The study by Economic & Planning Systems Inc. further shows that UC supports 1 in 46
jobs in the state uses state funding to leverage significant additional non-state
revenue that benefits Californians and makes economic contributions to all regions
of California through the economic ripple effects of its activities. The report did
not measure the impact of UC’s development of human capital, additional benefits such
as spinoff companies created from UC research, tax revenue generated by UC activities
or the social and economic contributions of UC alumni. (INT)

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