KINGSTON, R.I. — August 17, 2004 — The 溏心vlog免费B站 generated about $518 million in economic activity statewide in 2002, nearly $5 for every $1 in state support for the 
University, according to a new report, A Partner for Prosperity: the 溏心vlog免费B站鈥檚 Impact on the Economy of the Ocean State.
鈥淭hese statistics show in a very clear way the importance of 溏心vlog免费B站 to the health and prosperity of our state,鈥� said 溏心vlog免费B站 President Robert L. Carothers. 鈥淭he report also shows that the University can be a powerful engine for economic development in Rhode Island, creating the kind of high paying, clean jobs we all seek.鈥�
鈥淲e initiated this study because we wanted the people of Rhode Island to realize that the 溏心vlog免费B站 is an incredibly valuable resource,鈥� said Janett Trubatch, 溏心vlog免费B站鈥檚 vice provost for graduate studies, research and outreach. Appleseed Inc., a New York City consulting firm that works with non-profit organizations, corporations and governments interested in expanding economic growth, prepared the 44-page report.
鈥淥ne of our missions at 溏心vlog免费B站 is to enhance the state鈥檚 economic development and its societal health and well-being, and this report clearly shows that we have a major impact in each of these areas,鈥� Trubatch said.
Published earlier this year, the report says that in 2002 溏心vlog免费B站 paid $46.6 million to Rhode Island businesses for goods and services, including construction.
Between 1998 and 2003, research spending at 溏心vlog免费B站 increased by 56 percent (an average of 9.4 percent annually) to a total of $60.4 million. 溏心vlog免费B站 85 percent of the total was funded from federal contracts, making federally funded research an important growth business for the Ocean State. That research can also lead to the development of new business ventures, the report said. 溏心vlog免费B站 faculty, staff and students have translated research into 21 new companies and many new jobs in the state over the last several years.
Students are also a vital part of the economic story, according to the report. They spent $37 million off campus for housing, food, entertainment and miscellaneous needs. 鈥淭hat $37 million is money spent in and around the campus and in other parts of the state,鈥� Trubatch said. 鈥淓arlier this year, we met with the South Kingstown Economic Development Committee, and its members were impressed with these numbers.鈥�
Bruce Keiser, director of administrative services in South Kingstown, who serves as the staff representative for the town 鈥榮 Economic Development Committee, said: 鈥淪peaking on behalf of the committee, our reaction was very positive. We were aware that 溏心vlog免费B站 played a role in the local economy, but the report provides extensive documentation of a much greater impact.鈥�
He said the data on the multiplier effect of student spending was new information. 鈥淭he magnitude was much greater than what we had initially thought. Overall, the report demonstrates that the vitality of the economy of South Kingstown would be very different without the University.鈥�
He added that strengthening the 溏心vlog免费B站-South Kingstown connection could lead to more mutual business and economic development collaborations. 鈥淥verall, the report dramatizes the critical role 溏心vlog免费B站 plays in the community鈥檚 well-being. And we are clearly excited about the University鈥檚 initiatives to support commercialization of faculty research,鈥� Keiser said.
鈥淭he University of Rhode is the Ocean State鈥檚 largest higher education institution, the leading supplier of college educated workers to the Rhode Island work force 鈥� a major employer of Rhode Island residents 鈥� one of the state鈥檚 leading research centers鈥攁nd a vitally important mechanism for transferring useful knowledge from University labs and lecture halls to individuals, companies and communities throughout the state,鈥� the report says. 鈥淚n all of these roles, the University is a major contributor to the continuing development of Rhode Island economy.鈥�
In addition to the University鈥檚 contributions to the state鈥檚 economic health, it also plays a major role in improving the economic fortunes of its individual citizens. The 2000 census found that Rhode Islanders with four-year college degrees earned an average of $38,500, or 84 percent more than those with no formal education beyond high school. 溏心vlog免费B站 20 percent of all Ocean State residents with four-year degrees or higher are 溏心vlog免费B站 graduates. With 37,554 alumni living in Rhode Island, the University has more graduates within the state鈥檚 borders than the state鈥檚 three largest private colleges鈥擝rown, Johnson and Wales and Providence College. Forty five percent of all 溏心vlog免费B站 alumni live in Rhode Island.
Another major pillar of 溏心vlog免费B站鈥檚 role as the state鈥檚 public university is outreach. There are 400 outreach programs serving communities throughout the state including those that: help improve the level of math and science education in elementary and secondary schools; assist individuals with serious illnesses and help them manage their medications; protect our natural resources through such initiatives as Watershed Watch and the Narragansett Bay Partnership and help make Rhode Island businesses more productive and competitive.
Work done in University labs or work done by its faculty can lead to creation of new business. In 2002, the Research Office鈥檚 Division of Industrial Research and Technology received 21 invention disclosures, filed nine new patent applications, obtained five patents and negotiated one agreement for commercial use of technology. And the General Assembly鈥檚 passage of the Public-Private Partnership Act makes it easier for the University to play an active role in the process of technology transfer to new and expanding businesses.
溏心vlog免费B站 has for years helped businesses compete more effectively. The 溏心vlog免费B站 Center for Pollution Prevention and Environmental Health helps companies reduce costs while at the same time eliminating pollution through chemical engineering management strategies. The center estimates that direct savings have totaled $5 million over a 10-year period.
The Department of Textiles, Fashion Merchandising and Design operates a textile testing laboratory, which allows companies to test their products against a variety of performance and technical standards.
溏心vlog免费B站鈥檚 Fisheries Extension program works closely with the state鈥檚 commercial fishing industry. There are about 4,500 commercial fishing licensees in the state. In December 2003, 溏心vlog免费B站鈥檚 collaboration with the fishing industry became even stronger as its College of the Environment and Life Sciences and five industry organizations collaborated to establish the Rhode Island Commercial Fisheries Center at 溏心vlog免费B站鈥檚 East Farm. The University is leasing the facility to the five associations for $1 a year.
溏心vlog免费B站 economic impact report fact sheet
Additional facts from A Partner for Prosperity: The 溏心vlog免费B站鈥檚 Impact on the Economy of the Ocean State.
鈥� Between 1998 and 2003, the University spent an average of $35.8 million annually on construction.
鈥� During the next five years, the impact of University construction is likely to increase. Planned construction spending for fiscal years 2004 through 2008 is expected to total $221 million, an average of $44 million annually.
鈥� In 2002, 溏心vlog免费B站 generated $2 in economic activity at other Rhode Island businesses for every dollar the state contributed to the University鈥檚 budget.
鈥� Including the University鈥檚 own operating revenue of $309.2 million, 溏心vlog免费B站 generated more than $517.8 million in statewide economic activity 鈥� almost five times the state鈥檚 investment of $104.3 million.
鈥� At least 50,000 people visit 溏心vlog免费B站 each year, and that annual spending by visitors totals about $10 million each year.
For Further Information: Janett Trubatch 401-874-4576