ECONOMIC ENGINE THAT COULD
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At the moment, Semzyme may or may not be a corporate giant of the future. If it does succeed, the contribution of UCLA is, to at least some extent, quantifiable. The most significant long-term economic impacts of the university are, however, largely immeasurable largely immeasurable. A business graduate goes on to found a company that employs thousands of people; a film school graduate æ Francis Ford Coppola M.F.A. '67 was one æ makes great and successful movies; an engineering student takes a job with General Electric and comes up with a new, clean way to produce energy; a Bruin basketball player becomes a star of the NBA. How can the value of education be quantified in the activities of alumni?
Two UCLA graduates, Henry Samueli and Henry Nicholas, who both got their B.S., M.S. and Ph.D. degrees in electrical engineering at the university, founded Broadcom Corporation in 1991. The company is a leader in the manufacture of semiconductors for high-speed communications products. It employs more than a thousand people, had net revenue in 2000 of nearly $1.1 billion and a market capitalization as of late October 2001 of about $7.65 billion. While UCLA didn't have a direct hand in the creation of Broadcom, Henry Samueli apparently gives the school some credit for his success. He and his wife, Susan, donated $30 million to what is now called the Henry Samueli School of Engineering and Applied Science.
In the end, as impressive as they are, the numbers that form the picture of UCLA's economic impact as laid out in the LAEDC study are just a part of the whole.
"UCLA adds another, almost undefinable dimension to the economy and resources of Southern California," says LAEDC's Ackbarali. "It helps to grow and stabilize the economy, maintain it and make it more attractive to companies and people."