The University of Mary Washington contributed $115 million to the Fredericksburg area's economy in 2007, according to an economic-impact study commissioned by the school.
Stephen Fuller, director of George Mason University's Center for Regional Analysis, presented his findings at yesterday's UMW board of visitors meeting.
Statewide, the university spent $108 million, making its total economic impact $226 million, Fuller said. UMW has 1,286 employees, and the study linked another 3,378 non-university jobs in Virginia to the school's presence.
UMW asked for the report to counter community criticisms of its land purchases, student behavior and other issues. Fuller completed an economic-impact study for MediCorp Health System in 2007 and found that the company accounts for 2.3 percent of the area's $9 billion annual economy.
The UMW study defines the region as Fredericksburg and the counties of Stafford, Spotsylvania, Caroline, King George and Westmoreland.
The findings are broken down into several categories: wages and salaries, university purchases, construction projects, and spending by students, retirees, visitors and UMW's private foundation.
Every dollar of university spending actually generated $1.55 for the local economy because businesses and employees re-spend the money, Fuller said.
UMW paid $42.9 million in wages last year. Employee spending on housing, food, entertainment and other items added $47.8 million to the regional economy, the study concluded.
Spending by university students, retirees and visitors amounted to $24.7 million locally, according to the report. That number excludes part-time students and those whose families are from the area.
"It's very difficult to track students," Fuller said. "That's why this is a conservative analysis."
UMW Executive Vice President Rick Hurley asked Fuller about the school's impact on the city's real-estate tax rate. Fuller said yesterday he wasn't sure but could find out.
Fredericksburg Mayor Tom Tomzak said he knows UMW contributes to the community, and said town-gown relations are improving. "This is where all the [school's] tax-exempt land is," Tomzak said of the city.
According to the study, UMW spent $2.7 million on goods and services in Fredericksburg, and a total of $4.7 million in the region.
Fuller said he'd be happy to spread the word of UMW's influence on the economy.
"It's too easy to discount the value you have," he said.
Jeff Branscome: 540/374-5402
Email: jbranscome@freelancestar.com
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The University of Mary Washington paid $30,000 in October to put a chain-link fence around the bottom level of its garage for security reasons.
The school completed the work about a week after a student was sexually assaulted in the parking deck. "Before, you could get in and get out all kinds of different ways on that bottom level," said UMW Executive Vice President Rick Hurley. "This will cause someone to think twice" before committing a crime. The school also plans to put cameras at the garage's entrances and exits. |