JACKSON, Miss. (WJTV) – According to a recent study conducted by the University Research Center, Mississippi public universities provided $6.527 billion in economic impacts around the state in 2020.
The study examined the contribution of the state’s public universities to the Mississippi economy and the significant role its graduates play in the state’s economy.
“Mississippi’s public university system provides an outstanding return on investment to the state’s taxpayers,” said Dr. Alfred Rankins Jr., Commissioner of Higher Education. “As 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 Mississippi’s businesses and organizations thrive and prosper.”
The study projected the university system’s impact on Mississippi 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’s 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.
In 2020, the universities contributed an estimated $289 million to State General Fund Revenue in Mississippi.