News Article

JONESBORO, Ark. – A new study shows Arkansas State University has an economic impact of $2.5 billion annually through campus operations, student and visitor spending, and alumni who live and work throughout Arkansas.

Recently completed by Parker Strategy Group, the study is titled “A-State Powers Growth: Transforming the Economy and Inspiring Hearts and Minds.” The analysis concluded A-State’s economic impact reached $2.5 billion in the fiscal 2022-23 year, including $480 million generated by the Jonesboro campus, student spending and visitor spending, as well as $2 billion generated by A-State alumni living and working throughout Arkansas.

Arkansas State’s impact supports and sustains an estimated 16,332 jobs throughout Arkansas, including 4,752 via direct employment on campus, student spending, and visitor spending impacts and 11,580 via alumni impact in the state of Arkansas.

“Our commitment to excellence is not just measured in diplomas awarded, but in the far-reaching impact of our institution,” Chancellor Todd Shields said in his preface to the report. “Each year, A-State generates significant economic activity, creating jobs, supporting local businesses, and attracting investments that energize our region.”

For every dollar invested by the State of Arkansas in A-State, $7.10 is returned to the state as a result of the university's combined economic impact.

Also, for each dollar invested by the State of Arkansas, $2.52 is returned to the state through taxes generated by university operations, student and visitor spending. Through its local spending and the jobs supported or sustained, A-State generated $152.5 million in local and state taxes.

 “As one of the largest employers in the area, we contribute directly to the financial well-being of families and indirectly to the growth of industries that depend on an educated, skilled workforce,” Shields said.

Since its opening in fall 2016, the New York Institute of Technology College of Osteopathic Medicine at A-State has become a thriving economic partner.  NYITCOM generates an additional $44.6 million in economic impact, supporting 263 jobs and conducting operations that result in $2.2 million in additional state and local taxes.

Also measured in the report, which is now available online, was the amount A-State constituents give back, including the value of volunteer hours and charitable giving. Students, faculty and staff provided more than 176,000 volunteer hours, valued at $5.3 million, and charitable giving from alumni and others totaled $1.6 million, in the year studied.

 Some types of economic impact are direct, such as spending by resident students and by visitors, especially those attending sports contest and other campus events. Some impacts are considered indirect, such as the increased demand for supplies and services from industry sectors that serve the students, faculty, staff and alumni, along with the institution itself. A third category, induced impact, estimates the effect of increased household income and resulting spending among students, employees, alumni, suppliers and supplier employees.