Brief: Loyola impacts local economy

Maroon Staff

According to reports prepared by the university’s College of Business, Loyola generates $160.4 million into the economy. By employing a full- and part- time work force of 1,203, and indirectly employing more than 200 contracted workers, Loyola contributed $65.2 million to the economy in employment, including $51.8 million in after- tax payroll, $12.7 million in fringe benefit disbursements and $730,000 in state income tax revenue. Furthermore, Loyola attracts out-of-state students and campus visitors on an annual basis, boosting local stores and leading to more students, of whom spent $6.3 million on off-campus housing according to the report.