If you live in Auburn, Alabama, chances are that you know someone with economic ties to Auburn University. In fact, you probably know many people who are associated with college. Students, administrators, campus employees, and more—the college has a huge financial influence in town. However, Auburn University’s economic impact on the state is just as vast. Here’s how it works, Alabamians!
Studying Auburn University’s Economic Impact on the State
After gathering extensive data, Auburn’s Division of University Outreach determined that Auburn University has a significant economic influence on the state of Alabama. The division gathered its information from campus data during the 2018-2019 period. In order to determine their results, it considered both monetary and statistical information.
What Does the Data Mean?
You know how the data was collected. Now, the big question is: what does it mean? Well, there are several key points that reveal Auburn University’s economic impact on the state. They include:
- Grateful graduates. Auburn graduates sure are earning a lot of dough! In the past year, they collectively reached an earning capacity of $3.4 billion—and that’s just in Alabama.
- Return rate. A dollar spent on behalf of Auburn University would result in a return rate of $8.50.
- Earning increase. Auburn’s profit margin continues to grow. Since 2017, it has gotten 4 percent higher.
- Direct economic impact. Colleges mean spending on school-related expenses—and that can have a huge impact on the economy. Auburn’s was to the tune of $2.2 billion!
- Increasing jobs. People from all over Alabama work on behalf of Auburn University. The college has helped increase jobs, creating a total 26,623—and that’s not counting university employment.
- Overall earnings. You’d better sit down for this one! Roughly $5.6 billion of Alabama’s economy comes directly from earnings via Auburn University.
Summary
Auburn University’s economic impact on the state means an in increase in revenue, jobs, and earnings. In other words, it gives the state the basic building blocks of a healthy economy. That’s a reason to cheer “War Eagle!”
Auburn isn’t just a great place to study. It’s a great place to live too! If you want to find a home in the Auburn, Opelika, or Lake Martin area, Ryan Roberts is on the job. Fill out our contact form to get started. Plus, for more on local town updates, visit our blog.
