The University of Guam in fiscal 2019 boosted the local economy by $349 million, created 4,191 full-time jobs, and generated $78.5 million in local taxes — all while operating with an annually decreasing appropriation from the government, which totaled $27.4 million in 2019.
These figures were detailed in a report by UOG economics professor Dr. Maria Claret M. Ruane, who was commissioned to prepare an overview of the university’s expenditures and economic impacts in the past fiscal year. The report was finalized in July and released this week.
The report notes that the University of Guam had three major impacts to Guam’s economy in FY2019:
UOG contributed $1 of every $17 in Guam’s economy.
UOG created one in every 15 jobs on Guam.
UOG generated $1 of every $8 in GovGuam tax revenues.
“Given the isolation of this region, the University of Guam is an even more integral part of its community than most universities — it touches every industry of our islands and every aspect of life here,” said UOG President Thomas W. Krise.