DENTON (WBAP/KLIF) – A recent study shows the economic impact Texas Woman’s University is having on the State of Texas.
According to the University, Texas Woman’s economic impact on the state of Texas was $1.8 billion in fiscal year 2018, and for every dollar invested in the university by taxpayers, the state will receive $4.80 in return, according to a study released this month.
The study, prepared by Idaho-based Emsi, a labor market analytics company, measured the economic impacts created by the university and in a separate analysis estimated the return on investment from three perspectives: students, taxpayers and society, more broadly.
“This study not only illuminates the extraordinary impact Texas Woman’s has on the entire state, it also demonstrates the clear return on investment for our students,” said Chancellor Carine M. Feyten, Ph.D.
Impact to the state was measured over several facets, including employees, research, construction, alumni, students and visitors. Emsi’s analysis took particular care to estimate spending that would have occurred if the university did not exist and subtracted that from the spending in each facet. Using a large database of online resume-posting services such as LinkedIn, the study was able to produce a highly refined estimate of the university’s alumni impact, which accounted for $1.6 billion of the net $1.8 billion impact. That total impact also can be expressed in terms of statewide employment, which was equivalent to 29,112 jobs, the study said.
The study noted many of the university’s alumni employed in Texas work in healthcare, technical, management and education occupations, with nursing and teaching accounting for the largest share.
Texas Woman’s enrolled about 17,820 students in the academic year beginning in fall 2017, and the university employed nearly 2,200 employees, making it Denton County’s fourth-largest employer.
Besides the university’s payroll of $124.5 million, TWU spent $63.6 million on facilities, supplies and professional services during fiscal year 2018, which ran from September 1, 2017 to August 31, 2018.
After incorporating the multiplier effects generated by in-state spending of the university and its employees – and taking into account a downward adjustment for funding the university received from state sources – Texas Woman’s added $144.4 million to the state’s economy from its operations spending.
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