Study finds GVSU generates $3 billion annual economic impact, drives state and regional economy

A report released today underscores the significant role Grand Valley State University plays in Michigan’s economy, finding GVSU generates more than $3 billion in annual economic impact.

The study details Grand Valley’s strong return on public investment and the economic engine the university and its graduates drive for Michigan:

• For every $1 the state invests in GVSU, the university generates nearly $31 for Michigan’s economy.
• One in every 20 college-educated jobs statewide is held by a Laker with more than 116,000 jobs sustained by alumni and by the activities of the university and its students.
• GVSU graduates in Michigan annually earn $7.6 billion, strengthening the state’s economy and showcasing the value of a Grand Valley degree.

Randy Thelen, president and CEO of The Right Place, the regional economic development organization for Greater Grand Rapids, said Grand Valley is a key driver of Michigan’s growth.

“Grand Valley not only educates and retains top talent but also fuels innovation, entrepreneurship and growth across West Michigan,” Thelen said. “GVSU Lakers strengthen our workforce and play a vital role in shaping thriving communities across the state.”

The report found GVSU’s employment footprint extends statewide, supporting more than 17,200 jobs. This figure includes university employees as well as jobs created through the university’s broader economic influence in local communities.

Grand Valley President Philomena V. Mantella said the results reinforce the university’s importance to the state’s future.

“Grand Valley’s mission has always been about empowering students and strengthening communities,” Mantella said. “This study shows that commitment translates into real results for Michigan’s economy — from the thousands of graduates who stay and work here, to the billions of dollars in impact we generate each year. We are proud to be a university that delivers such a strong return on investment for our state and its people.”

The GVSU study was co-authored by Paul Isely, associate dean and professor of economics at GVSU’s Seidman College of Business, and Christian Glupker, senior clinical affiliate in the economics department. Together, Isely and Glupker have authored more than 25 commissioned economic impact studies.

Its findings align with a 2023 study conducted by the W.E. Upjohn Institute for Employment Research, a nonpartisan research organization based in Kalamazoo, which ranked Grand Valley as the top public university in the nation for graduate retention.

The Upjohn Institute determined that for every $100,000 spent in state appropriations, Grand Valley produced more than six graduates, the most of any U.S. public higher education institution.

For that same $100,000 in state funding, nearly five graduates remain in Michigan, meaning 86% of Lakers stay in-state.

The $3 billion annual impact across Michigan reflects the economic activity through university operations, student spending and alumni contributions.

The study based its analysis on data from the 2023-2024 fiscal year. 

The full report can be found at gvsu.edu/economic-impact.