This study examines the effect of the public higher education sector on Virginia's economy. It is an update of a study conducted four years ago. The study is based on new information made available since the last study and contains some methodological refinements and utilizes new Virginia-specific data sources to further improve the accuracy of the results. The study provides a full accounting of the current flow of economic activity in Virginia that can be directly tied to the expenditures and educational activities of publicly supported institutions of higher education. Economic effects for the first two components are measured using REMI PI+. Outputs of the model include calculation of the amount of Virginia gross domestic product, personal income, industrial output, employment, and state revenues attributable to public higher education.