Study: Universities Pump $11 Billion into Region’s Economy

June 9th, 2011 - By TheEditor

(Afro) — While the job sector remains sluggish as the economy recovers from a recession, universities in the Washington area are employment hubs, pumping $11.3 billion into the region annually, according to a report by George Mason University.  The study, which was commissioned by the Consortium of Universities of the Washington Metropolitan Area, revealed that universities have as much impact as the hospitality industry. As the largest private employers in D.C. and its environs, the 14 institutions support nearly 200,000 jobs, according to the study. In total, school employees who live in the region earn $3 billion annually.

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