{"id":70317,"date":"2004-08-19T00:00:00","date_gmt":"2004-08-19T00:00:00","guid":{"rendered":"https:\/\/www.uri.edu\/news-draft\/uncategorized\/new-study-says-uri-is-major-economic-engine-for-state\/"},"modified":"2004-08-19T00:00:00","modified_gmt":"2004-08-19T00:00:00","slug":"new-study-says-uri-is-major-economic-engine-for-state","status":"publish","type":"post","link":"https:\/\/www.uri.edu\/news\/2004\/08\/new-study-says-uri-is-major-economic-engine-for-state\/","title":{"rendered":"New study says 溏心vlog免费B站 is major economic engine for state"},"content":{"rendered":"
\n\t\tUniversity generated $518 million in economic activity in 2002<\/b><\/p>\n

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\u2019s Impact on the Economy of the Ocean State.<\/p>\n


\n\t\u201cThese 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,\u201d said 溏心vlog免费B站 President Robert L. Carothers. \u201cThe 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.\u201d<\/p>\n


\n\u201cWe 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,\u201d said Janett Trubatch, 溏心vlog免费B站\u2019s 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.<\/p>\n


\n\u201cOne of our missions at 溏心vlog免费B站 is to enhance the state\u2019s 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,\u201d Trubatch said.<\/p>\n


\n\tPublished 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.<\/p>\n


\n\tBetween 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.<\/p>\n


\n\tStudents 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. \u201cThat $37 million is money spent in and around the campus and in other parts of the state,\u201d Trubatch said. \u201cEarlier this year, we met with the South Kingstown Economic Development Committee, and its members were impressed with these numbers.\u201d<\/p>\n


\n\tBruce Keiser, director of administrative services in South Kingstown, who serves as the staff representative for the town \u2018s Economic Development Committee, said: \u201cSpeaking 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.\u201d<\/p>\n


\nHe said the data on the multiplier effect of student spending was new information. \u201cThe 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.\u201d<\/p>\n


\nHe added that strengthening the 溏心vlog免费B站-South Kingstown connection could lead to more mutual business and economic development collaborations. \u201cOverall, the report dramatizes the critical role 溏心vlog免费B站 plays in the community\u2019s well-being. And we are clearly excited about the University\u2019s initiatives to support commercialization of faculty research,\u201d Keiser said.<\/p>\n


\n\t\u201cThe University of Rhode is the Ocean State\u2019s largest higher education institution, the leading supplier of college educated workers to the Rhode Island work force \u2013 a major employer of Rhode Island residents \u2013 one of the state\u2019s leading research centers\u2014and a vitally important mechanism for transferring useful knowledge from University labs and lecture halls to individuals, companies and communities throughout the state,\u201d the report says. \u201cIn all of these roles, the University is a major contributor to the continuing development of Rhode Island economy.\u201d<\/p>\n


\n\tIn addition to the University\u2019s contributions to the state\u2019s 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\u2019s borders than the state\u2019s three largest private colleges\u2014Brown, Johnson and Wales and Providence College. Forty five percent of all 溏心vlog免费B站 alumni live in Rhode Island.<\/p>\n


\nAnother major pillar of 溏心vlog免费B站\u2019s role as the state\u2019s 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.<\/p>\n


\n\tWork done in University labs or work done by its faculty can lead to creation of new business. In 2002, the Research Office\u2019s 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\u2019s 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.<\/p>\n


\n\t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.<\/p>\n


\n\tThe 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.<\/p>\n


\n\t溏心vlog免费B站\u2019s Fisheries Extension program works closely with the state\u2019s commercial fishing industry. There are about 4,500 commercial fishing licensees in the state. In December 2003, 溏心vlog免费B站\u2019s 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\u2019s East Farm. The University is leasing the facility to the five associations for $1 a year. <\/p>\n


\n溏心vlog免费B站 economic impact report fact sheet<\/p>\n


\nAdditional facts from A Partner for Prosperity: The 溏心vlog免费B站\u2019s Impact on the Economy of the Ocean State.<\/p>\n


\n\t\u2022 Between 1998 and 2003, the University spent an average of $35.8 million annually on construction.<\/p>\n


\n\t\u2022 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.<\/p>\n


\n\u2022 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\u2019s budget.<\/p>\n


\n\u2022 Including the University\u2019s own operating revenue of $309.2 million, 溏心vlog免费B站 generated more than $517.8 million in statewide economic activity \u2013 almost five times the state\u2019s investment of $104.3 million.<\/p>\n


\n\t\u2022 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.<\/p>\n


\nFor Further Information: Janett Trubatch 401-874-4576<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

University generated $518 million in economic activity in 2002 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 University of Rhode […]<\/p>\n","protected":false},"author":2,"featured_media":70319,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-70317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archives"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/70317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/comments?post=70317"}],"version-history":[{"count":0,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/70317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/media\/70319"}],"wp:attachment":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/media?parent=70317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/categories?post=70317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/tags?post=70317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}