MORGANTOWN, W.Va. — Five north central West Virginia counties reap $3.6 billion in benefits from West Virginia University, according to Friday’s report from the school.
“It is clear from this report that West Virginia University is the economic engine for our region,” university president Gordon Gee told regional and state officials.
The report by the WVU Bureau of Business and Economic Research claimed that in 2014 the university’s operations in Morgantown contributed $3.6 billion in Monongalia, Marion, Harrison, Preston and Taylor counties.
That number comes from direct university purchases and the money faculty and staff members spend on things like housing, gas and groceries, according to co-author John Deskins.
“This research will allow for a better understanding of how our regional economy works and will lead to better ways to utilize WVU in coordinating with economic development strategies and in promoting long-run economic growth and prosperity overall,” said Deskins, director of the bureau.
The report uses the total expenditures the university produces each year, commonly referred to as “economic footprint analysis,” to measure WVU’s contributions to the local economy.
The authors noted that in fiscal 2014:
— 26,000 people are employed either with the university or on regional workers who depend on university employees for sales and investments
— 15 percent or $1.6 billion of worker pay and compensation in the region is related to university employment
— $66 million in state tax revenue is directly related to the university.
WVU posted the complete report on the bureau’s website.