Economic Impact in 2007
Key Findings—2007 CRC Economic Impact Study
The following apply to the combined economic impact in 2007 of the five institutions of higher education located in Wake County.
- The five CRC campuses contributed an estimated $5.5 billion to the Wake County economy.
- They accounted for 85,000 jobs for faculty, staff, students and alumni.
- The totals represent 25% of all wage and salary income in the local economy and 20% of total employment.
- Total spending effects in separate categories:
- Faculty and staff salaries — $941.1 million
- Operations expenses (excluding salaries and financial aid) — $182.1 million
- Spending by current students — $331.4 million
- Spending by alumni living in the area — $4 billion
- Spending on construction — $50.6 million
- Spending on athletic and cultural events — $26.6 million
- Total employment effects in separate categories:
- Faculty and staff jobs — 12,628
- Jobs in construction — 1,581
- Jobs held by alumni — 61,441
- Jobs held by students — 7,457
- Jobs in campus operations — 2,100
- Jobs related to athletic and cultural events — 165