Alcorn Economic Impact Report

Statewide Impact

for every $1…

$4.40

Invested in their education, Alcornites gain $4.40 in lifetime earnings

$1.50

Of public money invested in Alcorn, taxpayers gain $1.50 in added tax revenue and public sector savings

$3.10

Invested in Alcorn, society gains $3.10 in added income and social savings

$100.5

Students will receive $100.5 million in increased earnings over their working lives

MILLION

3.9% $292.4 MILLION

Economic Impact Report highlights

The annual rate of return for taxpayers is 3.9%

If students remain active in the state workforce, the Mississippi economy will grow by $292.4 million over the course of students’ working lives

alcorn.edu 601.877.6100 1000 asu drive lorman, ms 39096

a lc o r n stat e u n i v e r s i t y lo r m a n , m i s s i s s i p p i

ALCORN STATE UNIVERSITY’S 2018 - 2019 TOTAL ANNUAL IMPACT 3 alcorn university educated:

$149.1

4,072

MILLION

degree-seeking students

2,873

added in income to the region’s economy

JOBS

alcorn university employed:

864

which equates to approximately

faculty & staff members

ALUMNI IMPACT

OPERATIONS SPENDING IMPACT

Historically, land-grant universities opened opportunities to thousands of farmers and working-class people previously excluded from higher education.

Impact of the increased earnings of Alcorn alumni and the businesses they work for in the Southwest Mississippi River Region

Impact of annual payroll and other spending

$54.3 MILLION

$85.7

in operations expenses added to the local economy

MILLION

in added income

As a land-grant institution, Alcorn State University was founded to improve the lives of Mississippi residents through higher education, while

Enough to buy

Enough to buy

simultaneously supporting the country through

1,017

economic growth in key fields like agriculture, science, and engineering. That duty has not

1,782

402

new cars4

jobs supported

changed in the 150 years since its founding, as

jobs supported

246

houses in the local area5

part of fulfilling its land-grant university mission of education, research, and extension for the state of Mississippi, Alcorn creates a significant

STUDENT SPENDING IMPACT

positive impact on the business community and generates a return on investment to its major

Impact of the daily spending of Alcorn students attracted to or retained in the region

stakeholder groups—students, taxpayers, and society. The findings in the following pages will 1

highlight the extent of Alcorn’s impact throughout

$9.1

Enough to buy

MILLION

286

added to the Mississippi economy

jobs supported

1,040

families6 a year’s worth of groceries7

the Southwest Mississippi River2 region, which includes parishes in the state of Louisiana.

All results of the analysis reflect the fiscal year 2018-2019 For this analysis, the Southwest Mississippi River Region is comprised of Adams, Amite, Claiborne, Copiah, Franklin, Hinds, Jefferson, Lawrence, Lincoln, Pike, Walthall, Warren, and Wilkinson Counties in Mississippi and Concordia and Tensas Parishes in Louisiana 3 Figures exclude positive impacts of Alcorn State University’s Extension Program activities

Figures from USA Today 2015 study on average cars values in America Local area home values Family of four 7 Cost of feeding a family of four

1

4

2

5

6