ALLENDALE, Mich. (WZZM) -- In addition to educating students, Grand Valley State University has a significant impact on the region in other ways.
GVSU released its annual economic impact report recently and pegged its total estimated regional influence at $730.1 million in three West Michigan counties.
Matt McLogan, vice president for university relations, said the economic impact reflects the communities hosting GVSU campuses, which derive significant economic benefit from the university's presence.
"The model accounts for the economic impact created by the university as an employer and as a job creator by buying goods and services from local businesses that provide services for the university," said McLogan. "We provide three-quarters of a billion dollars of economic stability."
GVSU's regional economic impact is measured by the increase in "sales" in Kent, Ottawa and Muskegon counties that are a result of the university's presence. According to McLogan, the term "sales" is used as a proxy for all the turnover of economic activity created by the existence of the university.
You can read the entire article on the website of our partner, the Grand Rapids Business Journal, or pick up the latest edition of the Business Journal on your newsstand.