According to a recent report, Wichita State University and WSU Tech are key drivers of economic growth, fueling job creation, industry partnerships, and supporting local businesses.
According to the 2022 Economic Impact Study, WSU and WSU Tech’s total economic impact in Kansas in 2021 was around $1.3 billion.
The study, published recently by WSU’s Center for Economic Development and Business Research, used best practices laid out by the Association of Public and Land-Grant Universities and Association of American Universities.
WSU and WSU Tech’s impact on the Kansas economy can be seen through a variety of metrics.
Faculty and staff
The combined 3,083 faculty and staff at both institutions, along with their operating expenses, support 5,293 jobs and generate $342 million in annual labor income. Furthermore, the direct spending on other operating expenditures in 2021 amounted to $262 million, resulting in a total economic impact from university employees of $557.2 million.
Student spending and tourism
WSU students, estimated to have an impact of $603.7 million, have contributed to the local economy by purchasing retail goods, food, entertainment and housing, resulting in an estimated impact of 4,555 jobs and $162 million in labor income.
The study say that WSU attracts visitors who then engage in various tourism activities. While the study captures only a fraction of the full scope of tourism, the four components considered resulted in 230 jobs, $7.7 million in labor income, and $23.8 million in output.
Capital investments
Capital investments made by WSU and WSU Tech, including expenditures on equipment, software, vehicles and new buildings, accounted for $90.5 million in fiscal year 2021. These investments generated 1,580 jobs, $90.5 million in labor income, and a total output of $183 million in economic activity.
When considering the total economic contribution, the expenditures from both academic units in 2021 amounted to $602.9 million. By dividing the total impact of $1.3 billion by direct spending, a multiplier of 2.27 is obtained. This demonstrates that for every million dollars spent, WSU and WSU Tech support an additional $1.27 million of economic activity among Kansas businesses.
You can view the full economic impact report here.
