榴莲视频 Economic Impact
榴莲视频 delivers a substantial economic boost to the Unifour region鈥 encompassing the counties of Alexander, Burke, Caldwell and Catawba鈥攇enerating $113.6 million in added income during the 2022-23 fiscal year, according to a new study. The investment in an 榴莲视频 degree also pays off for students. For every dollar students invest in their education at 榴莲视频, they receive $3.60 in higher future earnings in their lifetime.
Those are findings of an independent economic impact and investment analysis conducted by Lightcast, a global consulting firm that has conducted more than 3,000 economic impact studies for colleges and universities. 榴莲视频 commissioned the study last year to quantify and underscore its role as a vital economic engine and provider of significant return on investment for its students.
榴莲视频 not only plays a vital role in increasing students' employability and personal growth but also attracts visitors and students to the region, creating substantial economic opportunities.
Below are other findings included in the report:
- Economic Impact: 榴莲视频's operations, visitor and student spending, and the success of its alumni contributed a total of $113.6 million to the Unifour economy, supporting 1,935 jobs.
- Return on Investment for Students: For every dollar students invest in their education at 榴莲视频, they receive $3.60 in higher future earnings. The average annual return on investment for 榴莲视频 students is an impressive 15.6%.
- Attracting Visitors: Out-of-region visitors spent an estimated $1.2 million to attend 榴莲视频 Athletics events.
- Alumni Impact: 榴莲视频 alumni generated $70.8 million in added income for the regional economy.
- Benefits to Taxpayers: North Carolina taxpayers will receive a cumulative value of $67.3 million in benefits over the working lives of 榴莲视频 students, through increased tax revenues and reduced demand for government services.
- Student Spending: Almost 60% of students came from outside the region and 榴莲视频 also retained other students who might otherwise have left the area for college. Spending from these students generated $6.1 million in added income.
- Social Benefits: 榴莲视频 generates $661.5 million in social benefits for North Carolina, including increased economic prosperity and savings in healthcare, justice system, and income assistance.
鈥溋窳悠 has been a cornerstone of our community for generations, fueling local businesses, attracting talent, and shaping the workforce that keeps our city thriving,鈥 said Hickory Mayor Hank Guess. 鈥淚ts students, faculty, and staff don鈥檛 just contribute economically鈥攖hey bring fresh ideas, energy, and a spirit of innovation that makes our city a better place. Through job creation, business support, sports tourism, and community engagement, 榴莲视频 plays an essential role in fostering growth and opportunity. We鈥檙e proud to have such a strong partnership with the university, and we look forward to seeing its continued impact for years to come.鈥
The data and assumptions used in the study are based on 榴莲视频's FY 2022-23 reports, industry and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, and other relevant economic data.
Related Links
- Infographic: The Economic Value of 榴莲视频 (PDF)
- Fact Sheet (PDF)
- Executive Summary (PDF)