CHICAGO – There are 65,524 college students enrolled in colleges in the Loop and South Loop, making the Loop the largest college town in Illinois, according to a report released today by Chicago Loop Alliance (CLA). This number represents a 25 percent increase since 2004.

“Much of the vibrancy in the Loop today is the result of a determined effort to foster higher education here, which has been part of the City of Chicago’s vision for re-using South Loop office buildings that are economically obsolete,” said Ty Tabing, executive director of CLA.

The number of people employed in higher education was up 24 percent. Now, 15,087 people are employed in higher education in the Loop compared to 12,000 in 2004, which translates into approximately $403 million spent per year on wages and salaries.

“This is encouraging news for Chicago. At a time when most economic sectors are shrinking, the education sector in Chicago continues to grow and expand. This means more jobs for Chicago,” said Tabing.

The CLA update of statistical information, conducted by DePaul University, also found that more office space is being used with more than 8 million square feet of space in the Loop occupied by higher education institutions – up 10 percent from 2004 – which is equivalent to the amount of space in two and one-fourth Sears Towers. This goes hand in hand with an investment by 14 institutions of more than $420 million in renovation and construction between 2004 and 2009. This is an increase of more than 164 percent over the previous five-year period. Also, 16 institutions reported spending more than $857 million on goods and services in the same five-year period, which is an increase of 148 percent between 2004 and 2009.

DePaul University researchers also surveyed nearly 3,000 students this spring to hear about how they spend their time and money in the Loop. Eighty-eight percent of respondents said they’d visited a fast food restaurant in the past three months. This was closely followed by cafes, restaurants, bookstores, cultural events, apparel, drug stores and convenience stores.

The survey revealed students spend the most money at restaurants in the Loop, with 97 percent of respondents having spent $5 or more at a restaurant in the past three months. They also tend to spend money on apparel and at bars in the Loop.

In the future, students would most like to see more affordable restaurants in the Loop. They’d also like to have a cross-college student center and later hours for retailers.

“The students have told us what they want. Now, it’s up to the business and higher education communities to respond,” said Tabing. “The students and employees of more than two dozen higher educational institutions in the Loop and South Loop are a key component of a diverse and economically healthy downtown Chicago.”

As a third phase of the higher education in the Loop and South Loop study update, CLA has commissioned the University of Illinois to do an analysis of the wider economic impact of the higher education sector on Chicago’s economy and expects to reveal the results this coming fall.

To see the full statistical update and student survey results, please visit www.chicagoloopalliance.com/business.php.

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About Chicago Loop Alliance

The mission of Chicago Loop Alliance (CLA) is to strengthen the Loop’s competitive position as a mixed-use destination and contribute to Chicago’s standing as a world-class city and tourist attraction. The CLA supports and advances the interests of its members through advocacy, networking, partnerships and promotions. For more information, visit www.chicagoloopalliance.com.

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