The University of California San Francisco (UCSF) unveiled an in-depth economic and fiscal impact report prepared by EPS. This report provides context of UCSF’s fiscal and economic contributions to the City of San Francisco as well as the greater nine-county Bay Area. Having conducted a similar analysis for UCSF in 2010, EPS was able to provide valuable insight into how the role of UCSF as one of the region’s strategic anchor institutions has changed over time. The findings of this analysis were highlighted by UCSF Chancellor Sam Hawgood during the annual State of the University address on October 4, 2016 and generated significant media coverage (including this article from the SF Business Times)
In brief, EPS found that UCSF’s spending and that of its employees and students is responsible for generating over $6.5 billion of total economic output within the City of San Francisco and over $8.8 billion in output in the nine-county Bay Area economy. Other metrics suggest that UCSF’s economic impacts are higher than those which can be directly translated into jobs and spending and include benefits from innovation and technology leadership, firm creation and workforce training, and the provision of free or below-cost healthcare services. In addition to these economic impacts, EPS also estimates that UCSF is a net-positive contributor to the San Francisco General Fund, generating a net surplus in excess of $900,000 annually to the City’s General Fund Budget.
A copy of the report and related materials can be found here.