Trine's economic impact is
$73 million for academic year
ANGOLA, Ind. – Trine University is known for being one of the fastest-growing private colleges in Indiana, but its economic impact might be less known.
Trine's economic impact for the 2013-14 academic year is $73 million. That's based on its total expenses multiplied by an average multiplier for Indiana shared by Independent Colleges of Indiana.
"Trine University is proud to contribute to local, regional and statewide economies," said Earl D. Brooks II, Ph.D., Trine president. "While our priority is educating and preparing students for careers, Trine is also focused on boosting economic development in the region through our academic programs and Innovation One. These efforts also translate into additional opportunities for real-world experience for our students."
Innovation One (innovation1.org), started in August 2012, is a venture that brings ideas to market by providing expertise and services in a number of areas.
This summer, Trine University became the first college campus to house an entrepreneur-in-residence with Elevate Ventures (elevateventures.com), a nonprofit entrepreneurial venture capital firm with offices throughout Indiana. Robert Clark, Elevate Venture's Northeast Indiana entrepreneur-in-residence, has an office at Trine. Clark's responsibilities include mentoring portfolio company leadership and sourcing and evaluating new investment opportunities in Northeast Indiana.
Trine serves as a large employer in the area with more than 450 employees, 275 of which are full time.
Those familiar with Trine's campus will see the more than $5 million, nearly 25,000-square-foot Jim and Joan Bock Center for Innovation and Biomedical Engineering is finished after less than a year of construction. The Bock Center is home to Innovation One (i1) and houses numerous laboratories to support i1 and Trine's engineering programs.
Near the university's main entrance, work is well underway on the T. Furth Center for Performing Arts. The $6 million renovation and expansion of the former Angola Christian Church will create a much-needed regional venue for arts and culture and provide a home base for Trine's music program. The Furth Center is on schedule to open in spring 2014. Trine's investment in its physical plant to support its programs, students and community exceeds $75 million over the past eight years.
Other efforts during the past academic year, including drawing people to the area and volunteer activities in the community, also likely had an economic impact in the region. For example, Trine's campus hosted a number of events that attracted more than 4,100 visitors to the area. That was in addition to the university's own numerous educational, entertainment and athletic events. Nearly 40,000 guests attended athletic events at Trine while approximately 650 attended Trine's campus visit days. Trine students contributed nearly 7,000 volunteer hours in the community.