The annual economic impact that Grand Valley has on the region rose by more than $50 million to $732.3 million. Grand Valley issued its yearly tri-county economic impact report during its April 27 Board of Trustees meeting.
Trustees also approved purchase of the Admiral Gas Station on Fulton Street.
The economic impact report covers Kent, Ottawa and Muskegon counties and uses 2010-2011 data. Grand Valley employs more than 3,200 employees and enrolls nearly 25,000 students who spend money and pay taxes in the region.
Some additional highlights of this year’s report are:
- New construction and renovations pumped nearly $70 million into the local economy in 2011. Two major projects continue to offer employment and economic vitality to the area: The Mary Idema Pew Library Learning and Information Commons and the L. William Seidman Center for the Seidman College of Business.
- More than 10,800 permanent off-campus jobs in the region exist because of Grand Valley’s campuses in those communities.
- There are more than 81,000 Grand Valley alumni and nearly half are living or working West Michigan’s tri-county area.
The entire Economic Impact brochure is posted at www.gvsu.edu/accountability.
In other Board action:
-- Grand Valley acquires property in downtown Grand Rapids
The Trustees approved the purchase of the Admiral Gas Station located at 346 West Fulton St. The university will purchase the property that is near the center of the Pew Grand Rapids Campus for $1 million. The purchase of this property is key to consolidating the university’s properties into one large parcel that would be bordered by the Grand River to the east, Winter Avenue to the west, Fulton Street to the north and Butterworth Avenue to the south.
“This is a positive move for the university, but also for the city,” University Counsel Thomas A. Butcher said. “It’s part of Grand Valley’s initiative to improve the west side of the city, and the best use of this property is for educational purposes.”
Demolition of the property will be conducted this summer.