Study Puts A-State’s Annual Economic Impact at $2.5B

(Arkansas State University

Arkansas State University’s economic impact in Arkansas reached $2.5 billion in the 2022-2023 fiscal year, according to a recent analysis.

The study by Parker Strategy Group of Philadelphia, Pennsylvania, found that A-State alumni living and working throughout Arkansas had a $ 2 billion impact on the state. The university’s campus in Jonesboro had a $480 million impact, a figure that includes student and visitor spending.

The study found that A-State supports and sustains an estimated 16,332 jobs throughout Arkansas, including 4,752 through direct employment on campus, student spending and visitor spending. University alumni account for another 11,580 jobs in the state.

“Our commitment to excellence is not just measured in diplomas awarded, but in the far-reaching impact of our institution,” Chancellor Todd Shields said in his preface to the report. “Each year, A-State generates significant economic activity, creating jobs, supporting local businesses, and attracting investments that energize our region.”

For every dollar invested by the State of Arkansas in A-State, $7.10 is returned to the state as a result of A-State’s combined economic impact, according to the study. And for each dollar invested by the state, $2.52 is returned to the state through taxes generated by university operations, student and visitor spending.

Through local spending and the jobs supported or sustained, A-State generated $152.5 million in local and state taxes in the period examined.

“As one of the largest employers in the area, we contribute directly to the financial wellbeing of families and indirectly to the growth of industries that depend on an educated, skilled workforce,” Shields said.

The full report is available here.