The University of Southern California is a private research university located in Los Angeles, California. Founded in 1880, it is the oldest private research university in California. USC has historically educated a large number of the region's business leaders and professionals. In recent decades, the university has also leveraged its location in Los Angeles to establish relationships with research and cultural institutions throughout Asia and the Pacific Rim. An engine for economic activity, USC contributes $8 billion annually to the economy of the Los Angeles metropolitan area and California.