Report: CSU is key to a strong California economy

LONG BEACH — California State University has released a report that argues the 23-campus system is a key source of job creation and innovation for the state economy.

The report titled "Working for California: The Impact of the California State University System" was issued Monday, ahead of the governor's updated budget plan later this week.

The report says CSU-related spending generates more than $17 billion in economic activity in California, supporting about 150,000 jobs and generating nearly $1 billion state and local taxes annually.

It estimates that for every dollar invested by California, the CSU generates $5.43 for the state economy.

Chancellor Charles Reed says he hopes the report will help persuade state lawmakers to protect funding for higher education as they negotiate the upcoming state budget.

Copyright 2010 The Associated Press.