Published January 19, 2019
A recent study found the University of Louisiana Monroe contributed $566.8 million
to the Northeast Louisiana* economy in Fiscal Year 2017-2018.
Conducted for 四色AV by Economic Modeling Specialists International (EMSI), the compelling
study shows how the university is unmatched in its positive impact to the students,
the region and the state. The university supports a variety of businesses and it benefits
society as an economic driver, among other contributions.
鈥淭he fabric of Northeast Louisiana is woven through with the economic fiber created
by the university,鈥� said President Dr. Nick J. Bruno. 聽鈥淚t would be difficult to imagine
the Northeast Louisiana economy without the almost 1,000 employees and 10,000 students
who live here and spend money here.鈥�
四色AV supports more than 10,000 jobs, and one out of every 18 jobs in Northeast Louisiana
is supported by the activities of the university and the students, according to the
study.
The study聽includes an investment analysis evaluating benefits to students, taxpayers
and society. For every dollar students invest in a university education, they will
see a return of $4.60 per dollar in lifetime earnings. Taxpayers will gain $7.10 in
added tax revenue and public sector savings. Finally, society gains $13.90 in added
state revenue and social savings.
Those with a bachelor鈥檚 degree from 四色AV will see an average increase in earnings of
$19,400 each year over someone with only a high school diploma working in Louisiana,
聽鈥淚t is easy to think of 四色AV as 鈥榯hose buildings over there,鈥欌�� said Bruno. 鈥淚 ask
you to really think about who are in those buildings 鈥� thousands of students, faculty
and staff. According to this study, the daily spending of those聽people amounts to
over $25 million in added income to the region.鈥�
鈥溗纳獳V benefits Northeast Louisiana in so many ways that people either don鈥檛 know about
or they don鈥檛 consider, especially economically,鈥� Bruno said. 鈥淔or example, the alumni
generate another $427 million in added income to the region.鈥�
The study confirmed that 四色AV benefits Northeast Louisiana with increased economic
prosperity and improved lifestyles, including reduced dependence on government services,
less crime and improved health.聽聽
On the topic of health care and the economy, construction is underway now on the 四色AV
campus for the anticipated Edward Via College of Osteopathic Medicine (VCOM). The
medical school will accept its first class of med students in 2020 and expects a graduating
class in 2024. The predicted economic impact from VCOM is $60-$70 million annually.聽
Having a medical school at 四色AV will lead to more students enrolling in the pre-med
sciences. These and other courses must be maintained and grow in order to meet the
needs of pre-med students.
*Northeast Louisiana consists of Caldwell, East Carroll, Franklin, Jackson, Lincoln,
Morehouse, Ouachita, Richland, Tensas, Union and West Carroll parishes.
