The economy in California has been struggling over the past few years, and this trend has hurt the funding of the California State University system. This may not mean much on the surface, but if California wants to recover they need to take the importance of the CSU system into account. A recent report released by the CSU system entitled, “Working for California: The Impact of the California State University System,” goes into depth on how much economic activity the system helps generate. Overall the 23-campus CSU system reported that they generate approximately $17 billion in economic activity for the state, which results in roughly $1 billion in local and state taxes each year. One example is the San Joaquin Valley campuses in the CSU system, which when appropriated $293 million in funds from the state, returned every dollar with $2.83 in regional and $4.5 in statewide spending.
Students count on the California State University system, as it is one of the most affordable and best quality higher education options for them to earn their degree. Governor Schwarzenegger will release a revised state budget this week, which is expected to show California with a minimum $20 billion in debt. Education is key to having a qualified work force who can contribute to the state economy, and the CSU system needs to receive adequate funding so they can continue to generate revenue for the state. As a business, the CSU system is profitable based on this report, so why not appropriate funds accordingly which the state will get a positive return on investment? Right now we will all have to wait until Governor Schwarzenegger announces the updated budget, to see how much funding the CSU system receives.
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Tags: California State University, California State University System
