Oakwood Named as a Pillar of Alabama's Economic Growth
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Posted By: Reginald Culpepper on November 08, 2024 According to UNCF, HBCUs have long been pillars of educational excellence and economic engines that drive prosperity in their communities and across the nation. While this might not come as a surprise to black folks, UNCF recently released their latest HBCU Economic Impact Report to proving it. The report had several key findings including: • HBCUs generate $16.5 billion in direct economic impact nationally • If HBCUs were a company, they'd place in the top 50 of the nation's Fortune 500 companies in job creation • Collectively, 136,048 jobs exist as a result of HBCUs So, what is Oakwood's economic impact? Speakin' Out News shared their own research drawing a comparison of HBCU impact in Huntsville. Listed along with Alabama A&M University and J.F. Drake State Community & Technical College, the paper revealed that Oakwood's economic impact is $92.6 million. "Oakwood's economic footprint extends beyond its campus, with each dollar spent generating an additional $1.26 in spending within the local economy. Graduates of Oakwood University can expect to earn $822.6 million in total lifetime earnings, which is 70% more than they would without a degree." The paper goes on to say that "HBCUs in Alabama contribute $1.4 billion to the local and regional economy." "Alabama's HBCUs continue to serve as invaluable contributors to both economic development and the success of their students. Their influence extends beyond campuses, enriching communities and shaping the future of the state's workforce." If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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Reginald Culpepper
President, Fulfillment and Web Services, HBCUCONNECT Clark Atlanta University class of 1998 Member Since September 2000 |
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