桃花直播 Public Universities have $6.5 billion impact on 桃花直播鈥檚 economy
颁辞苍迟补肠迟:听Caron Blanton
桃花直播 Public Universities provided $6.527 billion in economic impacts around the state in 2020, a recent study conducted by the University Research Center found. The study examined the contribution of the state鈥檚 public universities to the 桃花直播 economy and the significant role its graduates play in the state鈥檚 economy.
鈥溙一ㄖ辈モ檚 public university system provides an outstanding return on investment to the state鈥檚 taxpayers,鈥 said Dr. Alfred Rankins Jr., Commissioner of Higher Education. 鈥淎s the universities carry out their tri-fold mission of education, research and service, they also contribute to the economy through operational spending, supporting jobs, and preparing graduates to enter the workforce. Our graduates are an essential part of the labor force that helps 桃花直播鈥檚 businesses and organizations thrive and prosper.鈥
The study projected the university system鈥檚 impact on 桃花直播 economy to increase to $8.052 billion by 2030. The direct, indirect and induced effects on real Gross Domestic Product (GDP), total employment, and real personal income are included in the calculations, which focused on three major components of the university system鈥檚 impact:
- University Operations, including the number of employees, wages, construction cost, research spending, and all other operational costs
- Off-campus spending and all non-operational activities, such as sports, conferences, and volunteer hours provided by students and employees
- Additional earnings of graduates entering the workforce
The number of jobs supported by the university system through direct, indirect and induced employment was estimated to be 80,280 jobs in 2020. By 2030, URC estimates 98,801 jobs will be supported through the university system鈥檚 impact on the state. The salaries these employees earn contribute to 桃花直播鈥檚 economy through consumer spending, paying taxes and investing in real estate.
The report found that the university system provides an excellent return on investment for our state. Each dollar of state funding for 桃花直播 Public Universities generates approximately $1.52 of personal income in 桃花直播 and grows the 桃花直播 economy by $1.72. In 2020, the universities contributed an estimated $289 million to State General Fund Revenue in 桃花直播.
The University Research Center gathered data from the 2014-15 through 2019-20 academic years and used the five-year average for the calculations. Most of the inputs for the analysis were obtained from a survey of the IHL campuses and the Institutions of Higher Learning鈥檚 annual financial statements. Information on graduates and their average annual earnings was obtained from the Statewide Longitudinal Data System (SLDS) managed by 桃花直播 State University鈥檚 National Strategic Planning and Analysis (NSPARC). The study was authored by URC Senior Economist Sondra Collins, Ph.D.
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The 桃花直播 Board of Trustees of State Institutions of Higher Learning governs the public universities in 桃花直播, including Alcorn State University; Delta State University; Jackson State University; 桃花直播 State University including the 桃花直播 State University Division of Agriculture, Forestry and Veterinary Medicine; 桃花直播 University for Women; 桃花直播 Valley State University; the University of 桃花直播 including the University of 桃花直播 Medical Center; and the University of Southern 桃花直播.