Fayetteville State University Valuable Economic Engine for Community and Regionby GDN Shared Post December 11, 2017
A study has found that Fayetteville State University (FSU) is a valuable economic engine in the Fayetteville community, generating substantial economic returns annually.
The landmark study, HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities—commissioned by the United Negro College Fund’s (UNCF’s) Frederick D. Patterson Research Institute—shows that the economic benefits of HBCUs extend beyond the students they educate. They’re equally important to the regions and communities that HBCUs have served for more than 100 years.
The study’s key findings, based on 2014 data, shows that FSU generates $169 million in total economic impact for its local and regional economies. This includes direct spending by FSU on faculty, employees, academic programs and operations – and by students attending the institution. The study also found that every dollar spent by FSU and its students produces positive economic benefits generations $1.25 in initial and subsequent spending for its local and regional economies.
The total employment impact of FSU is 1,737 jobs for the local and regional economics. Of this total, 874 are on-campus jobs, and 863 are off-campus jobs.
As it relates to total lifetime earnings, the study showed that FSU plays a major role in the economic success of its graduates by enhancing their education, training, and leadership skills. The 1,148 FSU graduates in 2014 can expect total earning of $3 billion over their lifetimes. That’s 60 percent more than they could expect without a college degree.
This study is the first of its kind. It sets forth the benefits HBCUs produce in detailed, dollars-and-cents terms. It shows that money spent in, around, and by the nation’s HBCUs and their students drives economic growth both on and off campus—and that effect is multiplied over time. Each dollar spent creates far more than a dollar’s worth of productive activity as it moves through local, regional and national economies.
See below for the complete FSU Economic Report Fact Sheet. To view the complete HBCU Economic Report, go to: https://uncf.org/programs/hbcu-impact.
Located in Fayetteville, North Carolina, Fayetteville State University (FSU) is a public university offering degrees at the baccalaureate, master’s, and doctoral levels. Students enjoy nationally-ranked degree programs, a variety of class choices, excellent teaching, and small classes with professors who have outstanding credentials. As a member of the University of North Carolina system, and with more than 6,300 students, FSU provides students an exceptional, affordable, college experience; a connection to career aspirations; and a close-knit, supportive community centered on students’ success.