Study shows Auburn University has $5.6 billion impact on Alabama
A new study shows Auburn University and its alumni make a $5.6 billion economic contribution to Alabama’s economy each year, which includes the creation of nearly 27,000 jobs, along with university employment.
“Auburn is a critical economic engine that benefits all Alabamians,” said Auburn interim President Jay Gogue. “We are establishing partnerships that provide students with learning experiences, while companies, organizations and communities benefit from Auburn’s renowned research and outreach.”
The study, which was conducted by the Economic Research Services Inc. in Montgomery and Auburn’s Division of University Outreach, was based on research from the 2018-2019 statistical and financial data from Auburn’s main campus, Auburn University at Montgomery, the Alabama Agricultural Experiment Station and the Alabama Cooperative Extension System, which has offices in all 67 counties.
According to an Auburn University press release, the components of Auburn’s economic impact include:
An earning capacity of more than $3.4 billion by Auburn graduates in Alabama.A direct economic impact of $2.2 billion, representing Auburn’s in-state expenditures, such as payroll and purchases, student spending on local housing and food, construction and spending by visitors to university events. Auburn’s direct impact returned to the state’s economy more than eight times its state appropriation, or an $8.50 return for each dollar appropriated.
Auburn provides the primary academic support for a number of major state industries, businesses and occupations through its wide range of degree programs, professional education and training.
Auburn supports development of innovative research and technologies, industry collaboration and entrepreneurship that promote the economy of the state as well as the economic and security interests of the nation as a whole.
Auburn’s impact is responsible for creating 26,623 jobs in Alabama in addition to university employment.
The press release said the $5.6 billion impact “marks a 4 percent increase from a 2017 study conducted by University Outreach, which has led the studies since 1996.”
“This study confirms again what Alabamians already know about Auburn, that the university greatly contributes to the quality of life in Alabama,” said Royrickers Cook, vice president for University Outreach. “The university supports both emerging and traditional industries and provides services for the well-being of our citizens.”
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