Tuesday, May 09, 2006

UC Davis Plows Back $3 Billion

UC Davis Plows Back $3 Billion
By Reporter Staff

The University of California, Davis generated $3.06 billion in economic activity in California during the last full fiscal year, the university's news service announced.

That represents an increase of 4.4 percent, or $130 million, in economic activity from the $2.93 billion generated in the 2003-04 fiscal year.

"We are pleased to make such a contribution and grateful to the state and others whose investment in U.C. Davis has helped spur this kind of positive impact," said Chancellor Larry Vanderhoef in a written statement.

U.C. Davis remains one of the largest employers in the region, with 27,816 full-time and part-time employees. The university paid out $1.1 billion in salaries and wages to those employees in the 2004-05 fiscal year, ending June 30, 2005, while collecting revenues totaling $2.25 billion - half of which are thought to have come from outside the area.

Officials estimate that for every two direct jobs at UC Davis, approximately one other job is created in the state of California. That translates to

U.C. Davis' 27,816 full- and part-time positions generating approximately 15,500 more jobs across the state.

Additionally, the discoveries that result from university research and programs are increasingly being transferred to the public sector, with 142 U.S. patent applications filed in 2004-05, and 47 U.S. patents issued.

"U.C. Davis is dedicated to making a tangible difference in the lives of people everyday," noted Vanderhoef. "This latest financial report shows one way we are indeed doing that - through the campus' very significant economic benefit to the state and to the Sacramento region."

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