Authorized a recent study to increase gradually, the campaign of Virginia Business Higher Education Council, offers an unprecedented view of the impact of public colleges in Virginia, universities and community colleges in economic terms, Virginia, creating jobs and tax revenues of the state.

A study shows that for every dollar the state’s public system of higher education, it generates $ 13.31 in economic activity and $ 1.39 increase in tax revenue flows back to the state. Regional data was noted in a study this week at a press conference at James Madison University.

The study is the first comprehensive analysis of the economic impact of the Virginia Public System of Higher Education. The study also measured the projected impact of proposals on the campaign cumulative VBHEC up to 70,000 additional personnel, bachelors and graduate in Virginia in 2020.

Investigation of the Shenandoah Valley of main findings is that public universities will:

2.29 billion dollars of annual government contribution and the gross domestic product

10 per cent of total GDP in higher education in Virginia

10,221 jobs created by the operations of higher education

Generated $ 250 million in annual tax revenues in Virginia
Valley great contribution to investment in the future, Virginia, and the significant financial impact on current revenues of the Commonwealth, “said a member of VBHEC Jay Poole. “There are many unique initiatives of university employees through partnerships in the valley, and we continue to promote these opportunities.”

The economic impact study based on data from 2007 and all figures are based on 2007 $. The study calculates) the impact of increased spending on education and economic benefits (investment in human capital, resulting in increased power of earnings and the cost of college. The complete study is www.growbydegrees.org available. Among other findings:
$ 1.58 billion in Virginia, GDP by expenditure, higher education in Virginia, the production generated by people and organizations outside the state (34,833 jobs, is Virginia)

$ 588 million in Virginia’s GDP on research and development (12,927 jobs – 72 million in tax revenue for the state)
The economic impact study shows clearly that spending on education has a positive impact on everyone in the state of Virginia. Moreover, if Virginia can grow at Target Grades for the allocation of 70,000 cumulative additional degrees over the next ten years to achieve economic results convincingly:
$ 18 billion more in GDP of Virginia

$ 16 billion increase personal income of Virginia

1.9 billion dollars in new tax revenue for government