New report shows economic impact of CSUMB

Cal State Monterey Bay is often referred to as an economic engine for the tri-county region. A report released on Tuesday, Nov. 18, not only confirms that, but puts its contributions in perspective. 

“Moving California Forward: The economic power of the CSU” looks at the impact of the California State University system on both the state and its regions. It looks at four dimensions: economic, student, industry workforce and societal impacts. In addition, there is a report specific to CSUMB. 

That latter report found that every dollar the state invested in CSUMB generated $5.74 in statewide industry activity. When the impact of enhanced alumni earnings was included, that figure rose to $11.17. 

“This report confirms what we at Cal State Monterey Bay already know. Our university is transforming the lives of our students while also driving economic growth throughout the Central Coast and the state of California,” said CSUMB President Vanya Quiñones. “For every dollar invested in our campus, the return is more than fivefold in statewide economic activity. It underscores the vital role we play in preparing graduates for meaningful careers, advancing regional prosperity and uplifting the entire region through education.”

The report found that Otter alumni hold 2,900 jobs in the state, generating $623 million in industry activity. Much of that is local. 

The CSU report breaks out the Central Coast as a separate region. Within that region, CSUMB-related activity, including auxiliary and student spending, supported: 

• 5,800 jobs 
• $579.4M in industry activity 
• $251.1M in wages  earned 
• $44M in state and local tax revenue

“The breadth and scale of these broader impacts are massive – and they are thoughtfully discussed and clearly quantified in this extensive report,” CSU Chancellor Mildred Garcia states in the report’s introduction. “I am confident you will agree: Financial support of the California State University is not an expenditure, but a wise investment – in our students and the communities and state we serve.”

During the 2023-24 academic year, the CSU and its students spent $20 billion generating $31.6 billion in industry activity, about 1% of the state’s total GDP. It also contributed $2.3 billion in state and local tax revenue, and supported 210,800 jobs in the state. 

“Over the years,” the report said, “4.3 million people have graduated from the CSU system and the majority of them have remained in the state, creating an impressive network of leaders, innovators and public servants, and generating a vast amount of economic activity. In addition, the CSU system itself generates billions of dollars in annual economic activity and tax revenue, and supports hundreds of thousands of jobs statewide, both on and off its campuses.”