Impact study says Southeast boosts regional economy by $148 million annually | Schools
CAPE GIRARDEAU, MO (KFVS) - Results from an economic impact study released Friday at the Cape Girardeau Chamber of Commerce's First Friday Coffee show that Southeast Missouri State University boosts the regional economy with student expenditures of $63.6 million annually and a total University impact of $148 million.
The study is titled “The Economic Impact of Southeast Missouri State University on the Cape Girardeau Area and its Service Region.” Presenters were Dr. John Cherry, Southeast professor of marketing; Sabrina Lovelace, Southeast marketing major; and Dr. Bruce Domazlicky, Southeast professor of economics and director of the Center for Economic and Business Research. Dr. Judy Wiles, chair of the Department of Management and Marketing, and professor of marketing, assisted with the study.
The Donald L. Harrison College of Business was charged with the task of estimating the economic impact on output, employment and income as a result of spending by students, employees and the University for both day-to-day operations and for construction.
Kenneth W. Dobbins, president of Southeast Missouri State University, said the study is a continuation of similar studies, the first of which was initiated in 1970 and the last of which was commissioned in 2003. Dr. John Cherry, professor of marketing, made additional updates to the survey in 2011. In fall 2011, students in his “Introduction to Business Research” course assisted in the implementation of the survey and presented initial results to Dobbins and Dr. Ron Rosati, Southeast provost.
“Student spending in the Cape Girardeau area makes a significant impact on the local economy,” Dobbins said.
He noted that results of data gathered during a survey of students in fall 2011 indicate students spent $63.6 million locally over a nine-month period during the course of the academic year. Expenditures ranged from $10.8 million on groceries and more than $7 million on rent to $6.4 million on dining out and $3.3 million on cell phones.
Dobbins noted the terrific “town and gown” relationship the University shares with the City of Cape Girardeau, noting that students, faculty, staff and the business operations of the University have a profound impact on the city’s and the regional economy.
For more on what Dobbins said and survey results, you can click here to visit the university online.
Complete results of the study are available at http://www.semo.edu/economicimpact/.
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