(WILMINGTON) -- A new economic impact study shows that the University of North Carolina Wilmington is a significant part of the economic engine in Southeastern North Carolina. The study looked at an eight county region and found the university generated more than $1 billion in annual economic activity during academic year 2011-12.

“This is an astounding number,” said UNCW Chancellor Gary L. Miller. “It’s a concrete representation of the value of UNC Wilmington.”

The study found that economic activity from UNCW is responsible for more than 9,200 jobs, more than $335 million in labor income, almost $15 million in sales and excise tax collections, and nearly $13 million in county property tax collections. Data collected for the study show that UNCW is supporting more than 4 percent of total economic activity in the region.

“Colleges and universities are viewed primarily as organizations providing opportunities for advanced education and venues for the cultural and performing arts and athletic contests,” said William "Woody" Hall, senior economist at the UNCW Swain Center. “Another impact of higher education, sometimes overlooked, is the effect that the operations of these institutions have on area economic activity.”

The study was conducted by UNCW’s H. David and Diane Swain Center for Business and Economic Services. Contributors to the study were Hall; Ed Graham, professor of finance in the Cameron School of Business; and Bill Sackley, director of the Swain Center.

The eight counties where data was gathered included: Bladen, Brunswick, Columbus, Duplin, New Hanover, Onslow, Pender and Sampson.