LMU plays a vital role in the economic prosperity of the L.A. area. The annual budget of more than $300 million equates to an economic impact of more than $400 million on the Los Angeles metropolitan area. With about 1,500 faculty and staff, LMU is a major employer in Southern California.
The Master Plan & LMU's Ongoing University Operations
Over the next 20 years, LMU intends to complete a significant renovation and construction program of its Westchester Campus. This effort is part of a proposed Master Plan designed to ensure the ongoing success of the university and the attainment of its three-fold mission; the encouragement of learning, the education of the whole person, and the service of faith and the promotion of justice. The implementation of the Master Plan Project and development of modern facilities contributes to the attainment of the mission by preserving the university's ability to attract students, and provide a high quality education.
The implementation of the Master Plan Project will also ensure the university continues to be an economic driver in Los Angeles. Ongoing university operations currently are estimated to generate $442.6 million in annual economic activity supporting 5,116 jobs within L.A. County. Of the activity and jobs within L.A. County, $265 million in activity supporting 2,895 jobs is within the the city of Los Angeles. Additionally, it is estimated that spending by students generates approximately $100.6 million in economic activity within the county, and $67.8 million in activity within the city, supporting 748 and 545 jobs respectively.
Development and construction of the Master Plan Project will create an estimated $1.7 billion in economic activity and support approximately 15,363 jobs within the county, and $1.2 billion in activity and 9,425 jobs within the city. Additionally, it is anticipated that through the implementation of the Master Plan Project student enrollment will fulfill LMU's existing capacity approved by the city of approximately 7,800 full time equivalent students, LMU faculty and staff will increase and LMU's economic output will grow. As a result, ongoing university operations and student spending are anticipated to drive a total of $519.6 million in annual economic activity within the county and $323.1 million within the city, supporting 6,100 and 3,583 jobs respectively.
LMU is a major economic driver within Los Angeles, and the implementation of the Master Plan will help to ensure that the university's positive impacts on the region not only continue but also grow in the future, especially in conjunction with the university's current ongoing operations.