Universities are engines of economic development. Indiana University educates students for 21st century jobs in areas such as informatics and biotechnology that are vital to our state's economy. And as a major research university, we are involved in research and development that directly stimulate the economy by creating new jobs and attracting business and industry to the state. IU contributes to Indiana's economy in many ways:

• IU has more than 18,000 employees, making it the state's fifth-largest employer. IU employees pay $27 million in state income taxes each year.
• IU spends more than $145 million each year on goods and services from Indiana vendors.
• Each $1 million in competitively won grants and contracts generates 41.4 jobs. From 2000 to 2002, IU attracted $737 million in research funds, which supported 30,500 jobs for Hoosier citizens.
• International students and their families contributed more than $72 million to the Indiana economy in the past year.
• IU spent more than $600 million on major construction projects in the past decade.

Read more about IU initiatives that benefit Indiana's economy:

Advancing Indiana—IU plays a role in the everyday lives of Hoosiers, offering the educational opportunities, business partnerships, and quality of life enhancements that make Indiana a better place.

Campus Community Connections—Each of IU's eight campuses plays an important role in the educational and economic well-being of the community where it is located.

Indiana University Research & Technology Corporation —A not-for-profit agency, IURTC contributes to the state's economy by facilitating research and technology collaborations between Indiana University and business and industry in the state.

Johnson Center for Entrepreneurship and Innovation—Established in 1989, the Johnson Center serves as a link between the IU Kelley School of business and Indiana's business community.