Louisiana Tech will actively participate in a University of Louisiana System-sponsored study to look at the economic and quality of life impact that the university has on the community, region and state.
Applied Research Technology Corp. of Baton Rouge will conduct the study to determine the regional economic and quality of life effect that each of the eight ULS institutions has on its region, and the system’s collective impact on the state.
Results of the study are expected by late spring.
The data will be used by Louisiana Tech to clearly communicate the volume and strength of its contributions to the state’s economic development initiatives.
“This is an excellent opportunity to show how significantly Louisiana Tech’s research and business development activities impact the state’s economy,” says Louisiana Tech President Dan Reneau.
Louisiana Tech’s student and staff populations will have an opportunity to directly participate in this study by providing valuable data to the research team.
The study will compile expenditures from a variety of sources to compute an economic impact dollar figure that represents the university’s fiscal impact and contributions to the region and state.
Further, it will determine Louisiana Tech’s influence on the region through its activities and programs and make a value-added assessment of what the university’s graduates contribute to the regional and statewide economy, as well as to society in general.
“Much of the economic growth in northern Louisiana is proportionate to the innovations and opportunities created by Louisiana Tech students and faculty members each year,” says Reneau. “The ripple effect of what we produce is felt up and down the I-20 corridor.”
Similar studies have been commissioned by the California State System, the University of Maine System and the University of Texas System, as well as individual universities.
Written by Dave Guerin