A study shows the University of Louisiana System contributes 10.9 billion dollars to the state’s economy. The report shows that one out of 18 jobs in the state are supported by the universities of Louisiana. UL System President Jim Henderson says it’s evidence the system produces a large return on investment.
"The 12.9% annualized rate of return, so if you think about your savings account today, you might get 2%, a retirement fund you might get 8-10%, 12.9% rate of return for taxpayers is fantastic," said Henderson.
Economic Modeling Specialists International conducted the study. Henderson says EMSI knows what they are doing.
"An institution that 15-plus years working with higher education, they've done over 1,800 economic impact studies, a national leader in providing these studies," said Henderson.
Henderson says the study shows the UL system positively influences the state’s economy plus it gives students the tools they need to succeed in an ever-changing job market.
"I've heard numbers of much as 70% of the jobs we have in 2030, don't exist today," said Henderson. "We do know the best way to defend against that uncertainty is talent development that's what we do."