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New Study Finds Tougaloo College Makes $42 Million Impact on Local and Regional Economies (437 hits)

Tougaloo College is a valuable economic engine in its community, generating substantial economic returns year after year. A landmark study commissioned by UNCF—HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities—found that Tougaloo’s annual impact is robust and far-reaching. The study focused on three areas—total economic impact, employment, and lifetime earnings for graduates—that impact and contribute to the local and regional economies.

According to the recently released study, Tougaloo generated $42 million in total economic impact to its regional economy. This number measures spending by the College on faculty, employees, academic programs and operations; spending by students attending the institution, as well as the follow-on effects of that spending; and spending by current and prospective students and their families, as well as faculty, staff, and the public attending Tougaloo’s signature events, lectures, and other cultural activities. Tougaloo created and sustained 552 jobs. For each job created, another public- or private-sector job is created in the community because of Tougaloo College-related spending. Essentially, each $1 million initially spent by Tougaloo College and its students create 19 jobs.

The study also analyzed the impact of the 2014 graduating class. It estimated that the 154 graduates for that year would realize $398 million from potential additional lifetime earnings due to their education. The study clearly quantifies the economic impact that Tougaloo College’s production of college graduates has had on the local economy through the creation of human capital. Tougaloo alumni, living and working in the region, have higher earning capacity because they are well-educated and highly skilled.

Tougaloo College President Beverly W. Hogan asserts, “Long before the nation sounded the alarm that if colleges and universities did not increase the number of students earning degrees in STEM fields, our nation would lag behind, Tougaloo was sending students to graduate schools in these fields.” The National Science Foundation ranks Tougaloo among the top 25 U.S. institutions whose graduates earn their Ph.D. degrees in science and engineering disciplines and among the top 15 Historically Black Colleges and Universities HBCUs) in the graduation of females with undergraduate degrees in the physical sciences. Tougaloo produces 40% of the health professionals, including medical doctors, dentists, nurses, and public health specialists practicing in the state of Mississippi as well as 30% of the lawyers and teachers. The College is also listed among the 2017 Top 50 Minority Degree Producers for graduating African-American students with baccalaureate degrees in Social Sciences.

The economic impact study affirms the value proposition of an institution like Tougaloo College. In 2019, the College will celebrate its Sesquicentennial Anniversary—150 years as a leader in higher education—an influential contributor to the social, political and economic advancement of our state and nation.

The economic impact study will be highlighted at the College’s 30 Annual Business Luncheon, where some of the state’s preeminent business and community leaders and partners will gather to discuss opportunities and challenges that impact economic advancement on the local, regional national level.

About Tougaloo College

Tougaloo College is a private, historically black, liberal arts institution, accessible to all persons regardless of race, ethnic origin, religion or creed. A globally recognized institution, Tougaloo’s distinctive strengths are academic excellence and social commitment. Some of Tougaloo’s remarkable alumni include Congressman Bennie G. Thompson; NAACP President Derrick Johnson; Justice Reuben V. Anderson; Engineer and Educator Eugene DeLoatch; Astrophysicist Hakeem M. Oluseyi; City of Flint, Michigan Mayor Karen Weaver; Actress Aunjanue Ellis; Civil Rights Lawyer and Appeals Court Judge Geraldine Hines; Civil Rights Activist Dr. Joyce Ladner; former Mississippi Assistant Secretary of State Constance Slaughter Harvey, among others. Be a part of our journey by following us on Twitter and Facebook: @tougaloocollege.

About UNCF

UNCF (the United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. UNCF institutions and other historically black colleges and universities are highly effective, awarding 17 percent of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized motto, ‟A mind is a terrible thing to waste.”® Learn more at UNCF.org or for continuous updates and news, follow UNCF on Twitter at @UNCF.

https://www.tougaloo.edu/
Posted By: Elynor Moss
Tuesday, June 5th 2018 at 2:20PM
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