Report: Long Beach State generates $1.53 billion annually in economic activity
Long Beach State contributes to the community through its high-quality education and diversity, but its impact extends far beyond the classroom and nearby neighborhoods. As one of the biggest employers in the city of Long Beach, the 70-year-old campus influences the economy outside the city limits and into the next county.
According to a recent analysis released by Beacon Economics, Long Beach State plays a major role in boosting the economies of the local and surrounding areas. For instance, during the 2016-2017 fiscal year, Long Beach State had a total impact of $1.53 billion on the local combined region of Los Angeles and Orange counties, including an impact of $567.1 million on the city of Long Beach. That number represents nearly 3 percent of the city’s gross output ($20.2 billion in 2017).
Dean Michael E. Solt of College of Business called the 38-page report “impressive and comprehensive.”
“The university has significant economic and social effects on the city of Long Beach and the LA/Orange County region, generating $546 million in employee compensation annually,” Solt said. “The education level attained by our graduates help them experience higher incomes and lower unemployment and poverty rates, so CSULB is making a difference in their lives.
“The Economic Impact Analysis shows what a valuable asset CSULB is to the regional community.”
In the city limits alone, the university supported nearly 3,700 jobs in 2016-17, and another 10,600 throughout Los Angeles and Orange counties. Additionally, 29 of 38 Long Beach employers hired 130 CSU graduates who interned for them from 2016 to 2017.
Long Beach State also produced more than $546 million in employee compensation (earnings and benefits) for workers throughout Long Angeles and Orange counties, including $192 million in compensation in the city of Long Beach.