UC Merced tallies its value: $456M

MERCED — The University of California at Merced reported Thursday that it contributed nearly $456 million in direct economic value to the San Joaquin Valley since starting operations in July 2000.

Through August 2009, UC Merced has paid $269 million in local wages, awarded $90 million in construction contracts to local firms and bought $97 million in goods and services from local suppliers, a news release said.

Statewide, the university said its economic contribution since July 2000 is nearing the $1 billion mark.

In addition to the $456 million spent in San Joaquin Valley, the total includes $109 million in goods and services bought from firms outside the valley, and $384 million in construction contracts awarded to firms outside the valley, the statement added.

Chancellor Steve Kang said the university's economic contribution would continue to grow as the campus expands to accommodate rising enrollment.

With 3,400 students enrolled this fall, up 26 percent from the fall of 2008, UC Merced is on pace to reach the 5,000 mark by 2013. Enrollment is expected to reach about 25,000 students within 30 years.

UC Merced has 976 employees (excluding student employees) and a monthly payroll of some $6.7 million. With most of its employees living in the valley and buying goods and services locally, the economic impact is multiplied several times, the statement said.

UC Merced opened Sept. 5, 2005, as the 10th campus in the University of California system.