CLU pumps $142 million a year into county economy

For the first time, California Lutheran University has done a comprehensive study of the money it generates for the regional economy, and it turns out to be a lot.

For the academic year 2008-09, the Thousand Oaks university pumped $142 million into Ventura County's economy and $213 million into the state's, according to the study made public Tuesday. Every dollar spent by the private school generates roughly $2.20 for the county and $3.30 for the state, said the study's author, CLU economist Jamshid Damooei.

CLU President Chris Kimball said he always assumed the university's economic output was significant, and this new research lends credence to that assumption.

"We do good for the community not only in educating but also as an enterprise," Kimball said.

Damooei spent a year scrutinizing the impact of the college's payroll, operating expenses, and purchases made by students and visitors. Using an IMPLAN software model, he looked at sporting events, homecoming, graduation and money injected by enterprises that do business with the school. Induced effects - the spending of those who make money off CLU employees, students and visitors - were also assessed.

The study's release comes as the school readies for its 50th anniversary. CLU began with a $15 million investment in the campus and buildings, according to an old newspaper clipping from the Star-Free Press. The clipping, dated Oct. 30, 1961, announced the school had just opened its doors to 300 students that fall and hoped it would ultimately "have a 2,500-student enrollment."

Enrollment has surpassed those early expectations. In 2008-09, CLU had 4,240 students enrolled from across the nation and world, and they injected $40.5 million into the county.

The school's operating budget has swelled, too. CLU officials report that in the past seven years, it has increased by more than 20 percent to $65.2 million.

Other CLU money flowing into the county includes $7.8 million in spending by undergraduate visitors and $87.8 million in school spending on its 457 employees and administrative and capital expenses. CLU's presence also spawned $21.7 million in county taxes.

"Education brings so much value to the region that hosts it," said Thousand Oaks Mayor Dennis Gillette.

The new data will come in handy, he said, when approaching legislative officials who frequently want information about the community before they'll provide a grant. Gillette typically discusses Amgen, but now will have specific data he can point to about CLU too.

There are other things the school would like to add to the study, such as a measure of the value of volunteerism and alumni who remain in the county. This summer, the school will also look at its cultural effects on the community.

CLU is a nonprofit organization, and Damooei encouraged other nonprofit groups to conduct their own studies on regional impacts, especially now when many are weakened by the recession and looking for donations. He said donors appreciate tangible information that shows an organization is improving society and adding value.

"This is a very important study for CLU and for nonprofit organizations," Damooei said.

The other four-year universities in Ventura County are CSU Channel Islands in Camarillo and Thomas Aquinas College in Santa Paula.

CSUCI has not studied its economic impact on Ventura County, according to spokeswoman Nancy Gill. Thomas Aquinas' spokeswoman did not return phone calls seeking comment.

--- Published in the Ventura County Star on April 14, 2010