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A comprehensive, independent study of St. Ambrose University's impact on the local economy shows that it created $188 million in business spending, $73 million in personal income, and 1,913 jobs in the Quad Cities in one year.
The study was completed by the Strategic Economics Group of Des Moines, Iowa, and includes specific data on operations and construction spending, student and visitor spending, and impact on local taxes.
"For more than 130 years, St. Ambrose has been ‘in and of' the community it serves, enriching the cultural and social environment of our region; offering quality educational programs; and providing a well-educated workforce for local companies and organizations," said Joan Lescinski, CSJ, president of St. Ambrose University. "Impacting our local economy annually with $188 million in business spending and 1,913 jobs is an additional and important way we add value to our community."
- Over the past 10 years, St. Ambrose invested close to $90 million in new construction and renovations. As a result, the region saw an average yearly bump of $15 million in new business spending and 118 additional construction jobs.
- Annual student spending resulted in $46.5 million of the overall business spending. Approximately 82,000 visitors attended sports, arts, cultural, admissions and other special events at St. Ambrose during 2012, resulting in an economic impact of $9 million.
- That same year, spending related to St. Ambrose's operations, students, visitors and construction activity generated approximately $356,000 in local option sales tax for the Quad Cities region. St. Ambrose was also responsible for adding $2.8 million in property tax to the region.
- In addition, St. Ambrose provided an educational opportunity for residents of the Quad Cities who accounted for 39 percent of its enrollment. Approximately 38 percent of graduates remain in the Quad Cities region after earning their degree. These alumni work, pay taxes, raise families and contribute their training and human capital development to the community.
- The study also noted ongoing civic engagement by St. Ambrose students, resulting in 61,425 hours of community service during the academic year. This remarkable volunteer service and civic engagement placed the university on the President's Higher Education Community Service Honor Roll for the fourth straight year.