Chamber and Local Businesses React to New ISU Study Figures

Terre Haute, IN - Monday, we have updated numbers to share that show the impact Indiana State University has on the local economy.

We first told about this last week, but they've fine-tuned the numbers and have released a new very impressive figure.

A study conducted by Thomas P. Miller and Associates, an Indianapolis based consulting firm, researched more than 40,000 categories.

After fine-tuning their research, Indiana State invests more than what we first told you.

When I spoke with local businesses and leaders they agree ISU's role in the community, is a large one.

TMPA has corrected its numbers after identifying additional sources of impact.

President of the Terre Haute Chamber of Commerce, David Haynes, says that ISU's presence has often times gone unnoticed or unappreciated, but this study is changing that standpoint.

"This study confirms what I've believed for a long time and what I'm certain a lot of businesses have believed," says Haynes. "And that is, Indiana State University is very important to Terre Haute."

The new numbers show that ISU impacts our local economy by pumping more than $381 million dollars into our local economy on an annual basis.

The study looked at over 40,000 categories and one of those, you might guess, is local business.

"[I] personally cannot fathom, that number," says Twila Murray, GM of J Gumbo's downtown. "And when you actually threw that number out to me I was quite shocked."

The study not only releases numbers in dollar amounts TMPA also reports that ISU creates more than 4,500 jobs.

"I do believe that it's relevant to the economy and the business owners to actually have a number to wrap their heads around," says Murray.

"You know, there is a method to their madness," says Haynes. "Okay? ISU wants people to know how important they are to our community because they want our community to respect the fact that they exist here."

While they have updated local and state numbers, there is still a final report to come later this month.

The consulting firm will also make recommendations on how the university can increase economic development in the region.   

That includes encouraging the renovation of the Hulman Center.

The study was done by Indiana State's Division of University Engagement and the Business Engagement Center.

It measured the impact of the school, throughout the state and the seven county service area of: Vigo, Sullivan, Clay, Parke and Vermillion in Indiana and Clark and Edgar counties in Illinois.


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