78.1 F
Mobile
77.5 F
Huntsville
79.9 F
Birmingham
67.9 F
Montgomery

Auburn University, alumni contribute $6.3 billion to state’s economy

Auburn University is offering more than just academic contributions to the state of Alabama.

According to a new study conducted by the university, Auburn and its alumni have introduced $6.3 billion into the state economy, while also generating 30,000 jobs in addition to the school’s faculty.

“Auburn is hard at work for the state of Alabama and continues to be a critical economic engine for the state in building meaningful partnerships through impactful outreach, fostering innovation in the way of renowned research and fueling a talent pipeline of highly successful alumni,” said Auburn President Christopher B. Roberts.

Royrickers Cook, vice president for University Outreach and associate provost, said Auburn helps to improve everyday Alabamians lives.

“Auburn University’s significant economic impact across the state not only speaks to the value Auburn University adds to the financial well being of Alabama but even more so to the value our institution adds to the quality of life for Alabamians through education, research, and outreach.”

The study also noted how Auburn’s economy weathered some of the effects of COVID.

“The COVID-19 pandemic and the resulting international economic downturn caused significant restrictions on Auburn’s business, travel, instructional delivery, campus activities and other operations during the last study,” the 2023 study states. “Auburn’s robust institutional capacity and nimble operating responses during COVID allowed the institution to mitigate some of the downturn’s effects and still return a modest increase in impact and overall economic contributions during that challenge.”

The Auburn University Economic Impact Study’s findings have shown a 12% contribution increase by the university since the previous study that was released two years ago.

The $6.34 billion impact is realized through two primary measures — $2.53 billion in direct and indirect economic impact combined with $3.81 billion in the earning power of its graduates who reside in the state.

All total, the university is responsible for creating a total of 30,296 jobs in addition to its own direct employment, according to the study — which has been performed since 1996 by Auburn’s Division of University Outreach.

Austen Shipley is a staff writer for Yellowhammer News.

Don’t miss out!  Subscribe today to have Alabama’s leading headlines delivered to your inbox.