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New Study Shows Western Contributes Millions to Local, Regional Economies

The top of the taylor hall building covered in snow surrounded in snowy fall leaves.

A recent economic impact study shows that Western Colorado University contributed $153.4 million to the local economy in fiscal year 2023, making it one of the most significant economic drivers in Gunnison County.

The report highlights Western’s role as a hub of innovation and a vital economic engine that promotes job creation, educates leaders and entrepreneurs, attracts outside investment, supports local businesses, and brings long-term economic benefits to the Gunnison Valley.

With an operating budget of over $83 million last year, Western’s investment in people, facilities, and programs provides a stabilizing presence in the region’s recreation-based economy.

 

Supporting Jobs and Income

Western has been an integral part of the Gunnison Valley economy since it opened its doors as a teacher’s college in 1911, when the area was dominated by coal and cattle interests. While a lot has changed since then, Western’s position in the community has not.

According to a report produced by the University of Colorado Boulder’s Leeds School of Business, Western supported 835 faculty and staff in 2023, while direct and indirect employment created 1,492 jobs overall for full-time, part-time, temporary, and student workers.

In addition to being one of the community’s largest employers, Western also attracts students eager for jobs or internships in the area’s businesses, non-profits, and government offices and seeds the community with entrepreneurs and professionals.

While the study did not estimate the economic contributions of alumni working in Colorado, it shows that jobs held by Western employees provided $61.5 million in labor income last year, with ripple effects benefiting local housing, retail, and service-sector businesses.

 

Student and Visitor Spending Bolsters Local Business

In addition to the economic impact Western generates through its operations, the University contributes to the local economy indirectly through student and visitor spending. In 2023, students spent over $30 million on housing, groceries, and other essentials.

In the same period, Western-related events drew more than 22,000 visitors who purchased 13,574 hotel rooms, resulting in an estimated $7 million in visitor-related economic activity in the community.

 

A Foundation for Future Growth

Western’s economic contributions extend beyond immediate impacts. Alumni are an important source of innovation and entrepreneurship in the region and the state. Graduates often remain in the Gunnison Valley or in Colorado, providing the people who start families and businesses, serve on town councils, and support local causes, creating an environment that attracts others to relocate here.

“Western’s economic and educational impacts are deeply intertwined. We’re more than just a university; we’re a catalyst for growth and opportunity,” Western’s President Brad Baca said. “This institution will continue to be a hub of innovation and activity that will help stabilize and grow Gunnison’s economy for a long time to come.”

 

Learn More View Report

 

Author Credit: Seth Mensing

Photo Credit: Courtesy

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