UNCF Release Landmark Study That Statically Proves That HBCU’s Benefit The Economy
The United Negro College Fund (UNCF) released the HBCU Economic Impact Report. Historically Black Colleges and a Universities not only make America strong but they also make Multi-Billion Dollar economic impact into the national economy.
The impact described in the report includes almost $15 billion annually in economic impact. This study clearly enumerates the significant economic contributions of 100 HBCUs by focusing on the institutions’ far-reaching economic effects that can be felt in communities and nationwide, as well as the increased earning power of their students.
The landmark study, HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities—commissioned by UNCF’s Frederick D. Patterson Research Institute—shows that the economic benefits of HBCUs extend beyond the students they educate. They’re equally important to the regions and communities that HBCUs have served for more than 100 years.
This study is the first of its kind. It sets forth the benefits HBCUs produce in detailed, dollars-and-cents terms. It shows that money spent in, around, and by the nation’s HBCUs and their students drives economic growth both on and off campus—and that effect is multiplied over time. Each dollar spent creates far more than a dollar’s worth of productive activity as it moves through local, regional and national economies.
In total, the nation’s HBCUs generate $14.8 billion in economic impact annually; that’s equivalent to a ranking in the top 200 on the Fortune 500 list of America’s largest corporations.
These institutions generate 134,090 jobs for their local and regional economies—that’s equivalent to the number of jobs provided by Oracle, one of the nation’s largest private employers.
In fact, the 50,000-plus HBCU graduates in 2014 can expect total earnings of $130 billion over their lifetimes—that’s 56 percent more than they could expect to earn without their college credentials.
HBCUs Strengthen our communities, they create skilled workers, jobs and serve as economic hubs for the areas that surround their campuses and beyond. Below, we break down their economic impact and detail the effect each institution has on the community, region and state it calls home.
To find out how your HBCU impacts your community go to Here
Je'Kia Willis74 Posts
23, Blogger & Athletic Trainer with a passion to help heal others through various forms.