New Study cites Purdue University Fort Wayne’s $8.9 Billion Impact on Northeast Indiana Purdue University Fort Wayne has an $8.9 billion total economic impact on Northeast Indiana annually and fuels 82,450 jobs in the region, according to a new study. Those findings and others are the result of a new assessment of the university’s operations and workforce enhancement effects on business activity by The Perryman Group, a firm with deep expertise in conducting economic impact studies. While the majority of Purdue Fort Wayne’s annual economic benefits, not surprisingly, are centered in Northeast Indiana, the study also found that the university has an $11 billion total annual economic impact on the state of Indiana and fuels 101,999 jobs a year. Purdue Fort Wayne’s impact on the region and the state, according to the study, reflects the annual economic benefits of employed graduates living in Indiana when multiplier effects are considered. Approximately 75 percent of the university’s 60,712 alumni — who attended the Indiana University-Purdue University Fort Wayne, as the university was previously known — live and work in Indiana. “This report by The Perryman Group underscores the significant economic impact and benefits that a thriving university can have on its region, its state, and beyond,” says Ronald L. Elsenbaumer, Chancellor of Purdue University Fort Wayne. “While we have long known our university provides extraordinary economic and social benefits, it is gratifying to have the institution’s impact quantified and confirmed by an independent third party.” Among the highlights of the Perryman Group study:
• Ongoing annual economic benefits of $458 million in total expenditures in Fort Wayne from university operations and student and visitor spending.
• Total ongoing annual economic benefits of $269.1 million in gross product and nearly 3,350 jobs in Indiana, with benefits concentrated in the Fort Wayne area. This includes $38.2 million and 480 jobs generated in the region by student and visitor spending.
• An annual economic impact of $8.9 billion in gross product and 82,450 jobs generated by employed alumni in Northeast Indiana when multiplier effects are included.
• A total annual economic impact of $11 billion in gross product and 101,999 jobs generated by employed alumni in Indiana when multiplier effects are included.
“This report clearly demonstrates the tremendous benefit Purdue Fort Wayne brings to Northeast Indiana and the Indiana economy overall,” adds Chancellor Elsenbaumer. “Our alumni, students, faculty, and staff make up a large and highly educated workforce for our region and are constantly advancing innovation and new technologies. Their work helps make Northeast Indiana an attractive place to earn a college degree and pursue a rewarding career.”
The full report by The Perryman Group is available at pfw.edu/economic-impact/. About The Perryman Group Headquartered in Waco, Texas, The Perryman Group is led by Ray Perryman, Ph.D., one of the nation’s most influential and innovative economists. The firm analyzed Purdue University Fort Wayne using a model developed and perfected over 40 years. The Perryman Group has served more than 2,500 private-sector clients, and has produced more than 1,000 public policy studies. The firm’s previous clients have included numerous U.S. House and Senate committees; more than 50 state and federal agencies; the Bill and Melinda Gates Foundation; and dozens of universities, including The University of Texas and Texas A&M University. About Purdue University Fort Wayne Purdue University Fort Wayne is the largest university in northeast Indiana and is part of the Purdue University system. Purdue Fort Wayne is uniquely positioned to serve the region as a crossroads of intellectual, social, economic, and cultural advancement. Rigorous academic
programs are combined with a focus on student success across degree programs taught by 300 full-time faculty. More than 7,700 degree-seeking students of diverse ages, ethnicities, and nationalities pursue their education on the 700-acre campus. A majority of the more than 60,000 alumni live and work in Indiana contributing to the state’s economy, work force, vitality, and intellectual strength. For more information, visit pfw.edu.
FORT WAYNE — Northeast Indiana is officially designated as the inaugural 21st Century Talent Region by Indiana Gov. Eric Holcomb.
At the Regional Chamber of Northeast Indiana’s annual meeting on Thursday, June 20, Holcomb, together with Indiana Secretary of Career Connections and Talent Blair Milo and Indiana Economic Development Corporation President Elaine Bedel, presented the region with its official 21st Century Talent Region designation.
In partnership with the Office of Career Connections and Talent, IEDC and with technical assistance from CivicLab, the 21st Century Talent Region initiative encourages local governments, businesses, educational institutions, nonprofits and economic and workforce partners to create and implement a plan to increase educational attainment, raise household income and grow the population in a region.
By taking a comprehensive, systems approach, a participating region will identify strategic priorities and projects aimed at helping its communities create a better quality of place, develop and skill up its workforce and connect talented Hoosiers with businesses seeking to fill high-demand, high-wage jobs.
“Regional and local collaboration is key for Indiana communities when it comes to attracting, developing and connecting talent,” said Milo. “Northeast Indiana is a leader in cultivating 21st Century Talent by seamlessly connecting community team members together to grow the population, increase educational attainment and raise household income.”
The Northeast Indiana Regional Partnership worked with regional business, community and higher education leaders to identify key priorities for the region to achieve by the year 2030 through the 21st Century Talent Region initiative, including:
• Developing collaborative relationships within the region;
• Encouraging implementation and adjustment of initiatives to meet the goal of growing the region’s population to 1 million residents;
• Increasing post-secondary education and credential attainment to more than 60 percent; and
Raising per capita personal income to 90 percent against the national average.
As part of the initiative, the Office of Career Connections and Talent recently unveiled the 21st Century Talent Region Data Display to increase data accessibility, organize data across a customizable geographic region, and inform conversation among regional and local leaders to identify and prioritize collaborative efforts.
Ryan Twiss, vice president of regional initiatives of the Northeast Indiana Regional Partnership, said the state’s designation aligns efforts through common metrics, goals, and efforts to provide maximum impact for the state and Northeast Indiana.
“We are excited and humbled to be the first 21st Century Talent Region in the state. It is an honor to help organize the truly collaborative work that led to this designation. This is the result of a regional collaboration with many people coming together to provide input and expertise. We think this designation will be an important step as Northeast Indiana works to become a magnet for talent and one of the most prosperous regions in the country,” said Twiss. “This statewide collaboration is critical to our region’s success in the global war for talent and jobs.”
Next steps for Northeast Indiana include:
• Developing collaborative relationships and dashboards within the 11-county region by June 20, 2020; and
Encouraging implementation or adjustment of collaborative initiatives to meet the goals of growing the population to 1 million people, increasing postsecondary education and credential attainment to more than 60 percent and raising per capita personal income to 90 percent against the national average by 2030.
“To build on Indiana’s economic success, the state is committed to encouraging communities to plan for their future by promoting regional collaboration and creating long-term strategies focused on the quality of place and talent attraction,” said Bedel. “We’re excited that Northeast Indiana is forging ahead with its regional development plan under the 21st Century Talent Region initiative, and look forward to working hand-in-hand with communities in other regions to promote the same goals under the program.”
To read more news about Northeast Indiana, visit the website or for more information about 21st Century Talent Regions, visit the state’s website.
At the end of each legislative session, the Chamber hosts a Legislative Wrap-Up to discuss the ups and downs of the past session. Members get the opportunity to have breakfast with the Northeast Indiana delegation and learn how the General Assembly’s decisions impact their business. (Images courtesy of Fort Wayne Business)