Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, October 28, 1993 TAG: 9310280099
SECTION: CURRENT PAGE: NRV-1 EDITION: NEW RIVER VALLEY
SOURCE: By MICHAEL STOWE staff writer
DATELINE: RADFORD LENGTH: Medium
The total economic impact in Radford was $52 million - a 900 percent increase over a study in 1979 - and roughly a third of the city's $155 million sales last year.
Data for the report, completed by Fletcher Carter, director of Institutional Research, was compiled by surveying university faculty, staff and students on their spending habits.
"We think those are accurate numbers," Carter said.
In 1979, the impact on the city was $4.95 million. Fletcher said the dramatic increase in the last 14 years can be attributed to the school nearly doubling in size. It jumped from 5,683 to 9,430 students.
The university employs 1,061 people in the city, accounting for 59 percent of all jobs.
President Donald Dedmon said the study shows how Radford has made a concerted effort to reach out into the community.
"It's not independence that matters, but interdependence," he told the New Century Council leaders meeting at the school Wednesday.
Here's a breakdown of some of the findings:
Radford students spend $19.5 million a year in the city and $18.9 million in the remaining New River Valley annually.
Radford faculty and staff spend $4.7 million in the city and $8.2 million in the valley each year.
Visitors to the university spend $1.22 million a year in the New River Valley.
An additional $25 million in available credit is generated in local banks by the university.
The university pays the city more than $1.03 million in taxes yearly.
Carter said housing is one of the largest impacts the university has on the area - about 67 percent of the students live off-campus, spending about $8.15 million for a place to live for a nine-month period.
The researcher said students spend most of their remaining dollars on car care, clothing and entertainment and pet care.
"I was surprised by the amount spent on pets," Carter said.
by CNB