Notre Dame’s regional economic impact valued at $2.46 billion
Observer Staff Report | Thursday, October 11, 2018
According to a newly released report, Notre Dame has a $2.46 billion impact on the South Bend-Elkhart region each year. The impact is calculated based on money spent on investments and research; money spent by students, visitors and event attendees and the wage premium that Notre Dame graduates earn.
“Notre Dame’s economic and cultural impact is growing beyond South Bend to incorporate the broader region,” Notre Dame President Fr. John Jenkins said in the press release. “This growth reflects Notre Dame’s partnership with the thriving South Bend-Elkhart region — a place for robust employment and cultural life beyond the boundaries of the University. Notre Dame’s success can be measured in part by how well our neighbors flourish.”
According to the release, Notre Dame supports 16,700 jobs in the region. It uses a $1.2 billion operations budget annually and has a three-year average of $271 million in capital expenditures, which includes several of the recent large-scale construction and renovations projects. The impact of participant spending from events ranging from athletic to cultural is $256 million, and each home football game contributes $26.4 million to the local region.
This year’s report includes a wage premium section, which highlights the 10,000 Notre Dame alumni who live in Indiana and contribute to a $76 million aggregate annual wage premium by being in the workforce.
Notre Dame assesses its economic impact every five years. This year’s report was prepared by Econsult Solutions Inc.