CMU 'Economic Engine' For Western Slope
KREX News Room
GRAND JUNCTION, Colo.- The Regional Economic Impact report states Colorado Mesa University infused an estimated $351 million directly and indirectly into the regional economy in the fiscal year of 2011-2012.
CMU direct expenditures totaled $33.5 million with more than half of that spent in locally in Western Colorado.
"[CMU's economic impact] Is even larger right now than some of our energy companies. It makes Colorado Mesa one of the top, probably, five economic engines in our valley," said Diane Schwenke, CEO of the Grand Junction Chamber of Commerce.
CMU has continued to increase their economic impact to the Western Slope over the last several years.
"They've been a sustainable source of economic activity when we've seen some other ares of the economy declining," said Schwenke.
"It's a very nice reinforcement to say by the way we do reciprocate, it isn't just give, give, give," said Tim Foster, president of CMU.
It's a huge impact, and it's an impact on our local economy, our regional economy, and on our state economy," said Kelly Flenniken, with the Grand Junction Economic Partnership.
According to the report, just under $25.5 million in goods and services purchased by CMU was spent in Western Colorado, with eight percent spent elsewhere within the State.
"When you've got 80 percent of their capitol dollars and over 75 percent of the goods and services that they buy happening on the Western Slope that is huge," said Schwenke.
Officials say the study is conducted every other year and has increased by 143 percent since it started in 2003-2004.