Economic drivers

Economic drivers!
I will never again forget or underestimate the impact on our economy that is created by the jewel of higher learning that sits on the mountain overlooking the Rio Grande!
I’m not sure how many times I have mentioned that the main economic drivers in El Paso are:

• The growth of Ft Bliss
• Medical School
• The Research center that accompanies it, and of course the
• Downtown revitalization.

There is another driver that is not spoken about much and should….It’s UTEP and its march to becoming a Tier One University, considering that the definition of Tier One is generally a University that is spending $100 million in annual research, that is twice as much as UTEP is now spending.

It’s commonly stated that every great City has a great university as its foundation. One cannot overlook the impact that UTEP currently has on El Paso’s economy, and our real estate market. UTEP has an operating budget for 2010 of $335 million and 6,577 jobs are attributed directly to UTEP being here. The $250 million in Construction that is currently happening at the university has had a big boost in our local economy.

The purchasing of supplies and all the intellectual capital that UTEP brings to the region has a huge economic impact on El Paso already. There are thousands of people employed because of the University. Currently the annual research spending at UTEP is around $52 million. As a Tier One University that $52 million would double and it’s easy to see what an immense economic catalyst that would be.

There will be more professors, students, building, supplies purchased, bigger payrolls, and more demand on our El Paso real estate market. Achieving Tier One status at UTEP in part has to become a community effort! The business sectors along with individuals need to realize all the benefits that this will bring to the region. An investment in UTEP is an investment in the future of our community.

So let’s not under estimate the “Jewel” of higher learning that sits on the mountain overlooking the Rio Grande,” UTEP”.