Penn St. study says univ. generates $17B

April 23, 2009 10:39:02 AM PDT
A study commissioned by Penn State finds the university generates more than $17 billion for the state's economy. The report by the Pittsburgh-based consulting firm Tripp Umbach released Thursday says that makes Penn State the largest single contributor to the Pennsylvania economy.

The figure includes $8.5 billion of what the study calls "direct and indirect economic impact" and $8.7 billion through business services, research and alumni activities.

The study says Penn State is the largest creator of total employment among non-government entities with 44,000 workers.

School president Graham Spanier says he hopes the results will help state residents and elected officials understand how much the university system means to Pennsylvania.

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