Economic Impact Analysis Highlights Bridgepoint Education's Contribution to the San Diego Region
Company's impact estimated at more than $1 billion in business output
According to an independent study released today by the San Diego Regional Economic Development Corporation (EDC), Bridgepoint Education, Inc. (NYSE: BPI) had an estimated economic impact of more than $1 billion in business output on the San Diego region in 2011.
Bridgepoint Education is the ninth-largest employer in San Diego and the parent company of Ashford University and University of the Rockies, as well as the force behind Waypoint Outcomes and the Thuze and Constellation online etextbook platforms. As outlined in the 2012 Economic Impact Analysis report, in addition to the dollar amount of Bridgepoint’s business output to the San Diego region, another $449 million in employee earnings and $579 million in estimated total value was added to the region’s gross domestic product (GDP).
“Bridgepoint Education is proud to be a part of the San Diego community,” stated Andrew Clark, chief executive officer of Bridgepoint Education. “The EDC’s 2012 Economic Impact Analysis highlights our contribution to the region as a whole, both as the ninth-largest employer and as a thriving educational innovator.”
The company also contributes significantly to regional tax coffers. Bridgepoint Education’s state and local tax impact in 2011 added up to almost $44 million and its federal contribution totaled more than $120 million.
The report, commissioned by the EDC and prepared by The London Group, further explores Bridgepoint Education’s estimated quantitative benefit to the San Diego region by not only looking at its business activity and its employee presence, but also at its philanthropic endeavors. In 2011, Bridgepoint Education contributed nearly $1.5 million to San Diego non-profit organizations.
“It is critical for us to understand the companies and industries that are driving economic growth within our region,” said Mark Cafferty, president and CEO of San Diego Regional Economic Development Corporation. “As one of the region’s largest employers, Bridgepoint is a strong example of how a small business can transform into a broader, regional economic force.”
About Bridgepoint Education
Bridgepoint Education, Inc. (NYSE:BPI) improves the way individuals learn. By harnessing creativity, knowledge and proprietary technologies, such as Constellation, Thuze and Waypoint Outcomes, Bridgepoint Education has re-engineered the modern student experience with innovative solutions that advance learning. Its accredited institutions – Ashford University and University of the Rockies – embody the contemporary college experience. Ashford University offers associate's, bachelor's and master's degree programs while University of the Rockies offers master’s and doctoral degree programs. Both provide progressive online platforms, as well as traditional campuses located in Clinton, Iowa (Ashford University), and Colorado Springs, Colorado (University of the Rockies). For more information about Bridgepoint Education, visit www.bridgepointeducation.com or call Shari Rodriguez, associate vice president of Public Relations, at 858.668.2580.
About Ashford University
Ashford University is defining the modern college experience by combining the heritage of a traditional campus with the flexibility and effectiveness of online learning. The University provides a vibrant learning community where high-quality programs and leading-edge technology create a dynamic, immersive and stimulating learning experience. Ashford University is accredited by The Higher Learning Commission and a member of the North Central Association (www.ncahlc.org). The University offers practical and progressive associate's, bachelor's and master's degree programs online, as well as bachelor’s degree programs at its Clinton, Iowa, campus. Ashford University – where heritage meets innovation. For more information, please visit www.ashford.edu or call Shari Rodriguez, associate vice president of Public Relations, at 858.513.9240 x2513.
About University of the Rockies
University of the Rockies is an advanced graduate institution for tomorrow’s thought leaders. The University provides an intimate and dynamic learning environment, offering highly specialized master’s and doctoral degree programs in the social and behavioral sciences, access to industry experts, campus clinical programs for practical experience, and research and publishing opportunities. University of the Rockies is accredited by The Higher Learning Commission and a member of the North Central Association (www.ncahlc.org). Small by design, University of the Rockies classes are presented in a progressive online format and at its Colorado Springs, Colorado, campus. For more information, please visit www.rockies.edu or call Shari Rodriguez, associate vice president of Public Relations, at 866.621.0124 x2513.
About the San Diego Regional Economic Development Corporation
EDC's mission is to attract high-wage technology-driven companies to the region from around the world, to assist companies in San Diego with expansion plans, and to advocate and champion foundational efforts to improve the region's competitiveness.