"The total impact of the University goes beyond the operation of 24 campuses located throughout the Commonwealth and the education of more than 92,000 students. Penn State is an economic powerhouse in the Commonwealth, directly or indirectly affecting every resident of the state."

–Tripp Umbach & Associates, 2008 Economic Impact Statement

Penn State generates more than $16 Billion to state's economy

Penn State packs a powerful punch to the state's economy through direct and indirect impact in many areas. The University contributes to the growth of the state and the welfare of its people every day as a way of fulfilling its land-grant mission and giving back to Pennsylvania.

Running on Penn State power

In 2008, Penn State commissioned an independent study by the Pittsburgh-based Tripp Umbach & Associates to gauge the value of the University to the Commonwealth. Key findings in the 2008 Tripp Umbach report include the following.

• —Penn State contributes more to the state's economy annually than any other industry. In 2008, the University generated $7.7 billion in economic impact and an additional $8.68 billion through business services, research commercialization, and the activities of alumni.
• —Penn State generated more than 2 percent of the state's business volume or more than $1 out of every $50 dollars in the state's total economy.
• —The University annually attracts more than $631 million to Pennsylvania through its research activities. Research at Penn State supports more than 18,000 additional jobs in Pennsylvania, which generates more than $1.9 billion in additional economic impact and more than $61.2 million in additional revenue for the Commonwealth annually.

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• —Penn State is the largest creator of total employment among nongovernmental entities, with nearly 30,000 employees. The total payroll from Penn State annually generates $649.3 million in direct impact through faculty, staff, and technical service employees' spending as well as direct and indirect impact from tax revenues.
• —The University currently generates more annual economic impact than the combined total impact of all of the state's airport hubs, professional sports teams, and arts and cultural organizations, by attracting nearly 1 million visitors and generating $1.73 billion annually.
• —Student spending amounts to $932.2 million in the state's economy.
• —In 2008, out-of-state visitors to Penn State generated nearly $770 million in the Pennsylvania economy.
• —The more than 250,000 alumni who live in Pennsylvania generate $1.5 billion annually in additional economic impact, and produce $47.2 million in additional government revenue for the state.
• —More than 17,000 Penn State alumni own businesses in Pennsylvania, which directly employ more than 475,000 residents. The average wage of employees at companies owned by Penn State graduates is $9,800 higher than the average wage earner in Pennsylvania. This translates into more than $4.1 billion in additional expansion of the state's economy and more than $125 million in additional government revenue for the Commonwealth annually.
• —Penn State employees donate more than $130 million annually in charitable donations and volunteer services within the Commonwealth.
• —The total economic impact of Penn State is projected to grow over the next five years, from $7.7 billion to $8.68 billion in 2013.

For more information about Penn State, visit  About Penn State