6 The HBCU Advocate
Volume 1 Number 12
June/July 2018
Morgan State Study Details University’s Nearly $1-Billion Economic Impact Statewide, $574-Million on Baltimore
Morgan State President
David Wilson
University today
announced the results of a statewide impact study, after the conclusion of a comprehensive analysis of the University’s economic and fiscal contributions conducted by Econsult Solutions, Inc., an independent Phil- adelphia-based economics firm. The detailed study reveals that Morgan is a valuable economic
engine,
making an annual $990-million financial impact on Maryland and $574 million within Baltimore City. In addition, the University supports more than 6,500 jobs statewide, nearly 4,000 of which are located in the City.
The study’s conclusions are
based on data spanning fiscal year 2014 to fiscal year 2019. It examines operations,
capital community, innovation
seven key areas: investments,
student and visitor spending, wage premium, to
economic opportunities to local and diverse populations.
graduating students“Morgan
has long understood the role it must play in Maryland’s future success. The findings revealed in this report are enlightening and significant in their proof of Morgan’s importance to
the continued growth of the
State’s economy, and they further illustrate how investment in this
commitment and
University yields a measurable and impactful return,” said President Wilson. “From the jobs that are created to the tax revenues that are generated, to the many graduates that have remained within the region putting their degrees to work, Morgan’s positive influence can be felt throughout every corner of the state.”
Since its founding, Morgan
has graduated more than 50,000 degree candidates. Of the 30,749 alumni living in the U.S. who were able to be contacted, 70 percent live in Maryland, and 28 percent of that number live in the City of Baltimore. According to the study, nearly 17 percent of Morgan alumni are employed in STEM fields, versus 10 percent for all Maryland schools, and Morgan alumni working in Maryland earn an aggregate of $464 million per year as a result of their Morgan degree.
construction initiator investments of long-term throughout
craneAs an capital its
campus, Morgan creates economic opportunities for the construction industry and related sectors. Over the past six years, Morgan has committed to more than $207 million
in capital investments
resulting in the construction of three new buildings: the Morgan
Business Center, Martin D. Jenkins Hall and the Calvin and Tina Tyler Hall Student Services Building.
Morgan’s mission to offer higher education historically designation
denied
to groups and
its as Maryland’s
Preeminent Public Urban Research University, enhances the state’s well-being
and competitiveness.
Its research and innovation work produces scientific discoveries, yields startup ventures and tackles issues of strategic importance to the state.
Morgan’s innovation outcomes are dwarfed by those of larger research
universities the state’s other expenditures, in the
state, in terms of sheer volume. However, dollar for dollar, Morgan is significantly more productive than
average. Per $10 million research
in
universities and also produces at a level higher than the
research national Morgan
produces invention disclosures and new patent applications at a rate significantly higher than the state and national averages, which is a sign of its ability to initiate new scientific breakthroughs.
legislative testimony to Maryland lawmakers to highlight the
being utilized and to demonstrate
Each year, Morgan provides how
University’s resources are
the University’s return on the investment from the State.
Other key findings from the report: $47 million in state tax
revenues generated ($9 million in taxes for Baltimore)
60 percent of the economic and employment impact occurs in Baltimore
inject
Morgan students and visitors $88 million
per year
in spending into Maryland’s economy
Annually, Morgan students
engage in more than 20,000 hours of community service
student at job fair“Our
national work on the impact of higher education has underscored for us the importance
of
institutions’ being good neighbors in their community, anchoring their
region’s innovation
ecosystems and being accessible and affordable to a diversity of incoming students,” said Lee Huang, M.P.A., senior vice president and principal, Econsult Solutions, Inc. “Morgan has been excellent on all of these fronts.”
Data utilized throughout the study were largely provided by Morgan and were independently checked against publicly reported sources, where available.
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