Study: GW contributes $500 million to Virginia’s economy

Virginia’s economy has GW to thank for its prosperity.

A new study finds that GW contributes 5,275 jobs and more than $500 million to Virginia’s economy, according to a University release. GW has taken advantage of tech and research sectors in Virginia over the last several years.

The Virginia Science and Technology Campus and the Computational Biology Institute are located in Virginia and house many of GW’s science professors and their research projects. GW also has several academic centers in Virginia.

“We are proud of our more than 50-year presence in Virginia and of the fact that, as this report shows, thousands of GW alumni, students, faculty, and staff are playing a vital role in Virginia’s economy,” University President Steven Knapp said in the release.

This study was conducted by Chmura Economics and Analytics of Richmond, Va., and found that six in 10 of all GW faculty and staff lived in Virginia, and more than 6,500 GW students and 50,000 alumni are Virginia residents as of 2014.

The study also found that GW contributed $1.9 million to local governments and $21.5 million to the state government through taxes. The Virginia Campus’ strategic plan has called for more professors to work with local companies to build connections in the community.

The D.C. Chamber of Commerce recently named GW the 2015 Economic Impact Award, as GW is the largest university in D.C. with more than 26,000 students and is one of D.C.’s top employers.

The Hatchet has disabled comments on our website. Learn more.