Fourth largest employer in L.A. County supports more than 72,000 full-time jobs
UCLA is an economic powerhouse for Los Angeles, Southern California and California overall. A study by the Beacon Economics consultancy found that UCLA generated a total of $11.06 billion in economic activity and supported more than 72,700 full-time jobs throughout the state during the 2016–17 fiscal year.
The report also found that UCLA is the fourth largest employer in Los Angeles County, behind the county itself, the Los Angeles Unified School District and the City of Los Angeles, and ahead such companies as Kaiser Permanente, Northrop Grumman and Target Corp.
“UCLA’s contributions to our state’s economic vitality are significant and widespread, from discovering life-changing technologies to employing tens of thousands of Californians,” said UCLA Chancellor Gene Block. “Measuring this economic impact allows us to demonstrate how every dollar invested in UCLA pays substantial dividends back to people throughout our state.”
The UCLA Economic Impact Report also demonstrates that UCLA’s spending activity has a total impact far beyond that of its direct spending. For example, technology companies that license UCLA-developed technology and research are often valued in the hundreds of millions or even billions of dollars.
“UCLA is a source of pride for Angelenos everywhere,” said Los Angeles Mayor Eric Garcetti. “The university’s impact can be felt all around us — in the workers it employs, the jobs it creates across our city and state, the startups it develops on campus, and the discoveries made in its labs and classrooms. Our economy and our communities benefit from UCLA’s presence and performance every day.”
Among the study’s highlights:
• During the 2016–17 fiscal year, UCLA had a total impact of $11.06 billion on the California economy.
• UCLA’s spending activity supported more than 72,700 full-time jobs throughout the state.
• More than $4.15 billion in labor income (earnings) was generated by UCLA through direct, indirect and induced spending activity.
• UCLA generated $5.86 billion in direct spending throughout California, including $2.61 billion in the City of Los Angeles alone.
• UCLA helped generate $706.1 million in tax revenue throughout California through direct spending and secondary spending impacts.
• UCLA had an economic impact of $2.42 billion in indirect (business-to-business) spending, including $2.31 billion in Southern California and $765.1 million in the City of Los Angeles.
• UCLA had an economic impact of $2.79 billion in induced (household) spending, including $2.52 billion in Southern California and $718.9 million in the City of Los Angeles.
• UCLA Health Sciences alone had a total impact of $6.49 billion on the California economy, including $6.13 billion in Southern California and $2.39 billion in the City of Los Angeles.
• During the 2016–17 fiscal year, 24 startups launched using UCLA-developed technology.
• For the same period, 251 U.S. patents were issued to UCLA.
With more than 45,000 students and 43,000 employees, UCLA is renowned around the world for the quality of its students and faculty, and its dedication to its mission of research, teaching and service. UCLA is consistently ranked each year as one of the best universities in the United States, including as the No. 1 public university in the nation by U.S. News & World Report and as No.1 among best-value universities by Forbes.