NORMAL, Ill. (AP) _ A study by Illinois State University researchers says the school brings in about $554 million a year into the community, making it responsible for 7.5 percent of the McLean County economy.
The (Bloomington) Pantagraph reports the findings are based on the number of people employed by the university and the university’s spending on general operations and capital projects, including maintenance.
ISU economics professor Hassan Mohammadi and Frank Beck, director of ISU’s Stevenson Center for Community and Economic Development, say the estimate is based on direct economic impact. Mohammadi says every dollar spent by ISU and its faculty, staff and students generates another 50 cents of income in the county, or another $278.7 million.
Spending by people attending athletic or other events or visiting friends or family was not included.
