{"id":47746,"date":"2022-12-01T10:07:46","date_gmt":"2022-12-01T16:07:46","guid":{"rendered":"https:\/\/www.tarleton.edu\/news\/?p=47746"},"modified":"2023-01-19T08:28:17","modified_gmt":"2023-01-19T14:28:17","slug":"tarleton-the-economic-engine-fy-2020-21-impact-estimated-at-2-billion","status":"publish","type":"post","link":"https:\/\/www.tarleton.edu\/news\/tarleton-the-economic-engine-fy-2020-21-impact-estimated-at-2-billion\/","title":{"rendered":"Tarleton the Economic Engine: FY 2020-21 Impact Estimated at $2 Billion"},"content":{"rendered":"\n

STEPHENVILLE, Texas \u2014 Tarleton State University is turbocharging economic growth, generating an estimated $1.2 Billion<\/strong> for North Central Texas and $2 Billion<\/strong> total for the state.<\/p>\n\n\n\n

An independent study by the global research firm Lightcast (formerly Emsi) confirms that Tarleton\u2019s impact extends far beyond its main campus in Stephenville and the counties it serves. Released today, the report draws from university financial figures and from the U.S. Bureau of Labor Statistics and U.S. Census Bureau for fiscal year 2020-21.<\/p>\n\n\n\n

\u201cPreparing students for today\u2019s market and tomorrow\u2019s careers boosts the economy and loads the workforce pipeline,\u201d said Tarleton President James Hurley. \u201cEducation is inseparable from economic growth. If we educate students in Texas, they will stay in Texas, and Texas will<\/em> continue to prosper.\u201d<\/p>\n\n\n\n

As a result of their education, Tarleton Texans receive higher earnings and increase the productivity of the businesses that employ them. Alumni generated $1.7 Billion<\/strong> in added income for the state economy in FY 2020-21, equivalent to supporting almost 24,000 jobs.<\/p>\n\n\n\n

\u201cTarleton is one of the fastest growing educational institutions in the country and a first-choice destination for some of the brightest minds in Texas,\u201d Dr. Hurley said. \u201cStudents don\u2019t just come to Tarleton, they take Tarleton with them. And most, about 97 percent, live and work in the Lone Star State.\u201d<\/p>\n\n\n\n

\"Economic<\/figure>\n\n\n\n

Tarleton bachelor\u2019s degree graduates on average earn an undiscounted $1.2 Million<\/strong> more than high school graduates ($30,800 annually per graduate) over their working lives in Texas. The lifetime benefits of the Tarleton master\u2019s degree over a high school diploma are $1.9 Million<\/strong> for graduates while they\u2019re in the workforce, and $668,000 more than they would make with a bachelor\u2019s degree.<\/p>\n\n\n\n

Put simply, Tarleton graduates receive $7 in higher future earnings for every dollar they allocate to their education \u2014 an average 23.2% annual return on their investment. That\u2019s more than double the U.S. stock market\u2019s 30-year average of 10.5%.<\/p>\n\n\n\n

In return, taxpayers benefit from $221.6 Million<\/strong> in added tax revenue stemming from students\u2019 higher lifetime earnings and increased business output. A reduced demand for government-funded services in Texas adds another $34.4 Million<\/strong> in benefits.<\/p>\n\n\n\n

For every dollar of public money invested in Tarleton in FY 2020-21, taxpayers receive $4.1<\/strong>0<\/strong>, or 9.4%, <\/strong>in return over the course of students\u2019 working lives. Dr. Hurley: \u201cWithout question, there\u2019s great<\/em> value in a Tarleton degree.\u201d<\/p>\n\n\n\n

Of the $2 Billion impact to the state, Tarleton start-up companies (created to license and commercialize university technology or knowledge) accounted for almost $105 Million in added income for FY 2020-21. Research activities added $20 Million and construction spending another $6.4 Million.<\/p>\n\n\n\n

Current and future projects such as the $66 Million Interprofessional Education Building in Fort Worth and, in Stephenville, a multilevel parking garage and additional seating at Memorial Stadium are not part of today\u2019s report. Nor does it include work on the Athletics Administration and Academic Success Center, enhanced baseball and softball facilities, permanent home for track and field, Convention and Events Center, Aquatics Center, Health Sciences Building and Research Administration Building.<\/p>\n\n\n\n

At the close of 2021 Tarleton earned the elevated designation of Doctoral Universities: High Research Activity<\/em> by the Carnegie Classification of Institutions of Higher Education, putting the university among only 4% of schools across the country so recognized.<\/p>\n\n\n\n

And this fall the school was invited to join the distinguished Association of Public and Land-grant Universities, underscoring its place among the top schools in the U.S., Canada and Mexico.<\/p>\n\n\n\n

\u201cStrength in research, scholarship and entrepreneurship makes Tarleton a powerful engine of opportunity and a great investment for our students,\u201d Dr. Hurley said. To this end, new physical therapy, occupational therapy and physician assistant programs are coming to address the state\u2019s growing need for healthcare providers.<\/p>\n\n\n\n

\u201cFor 123 years we have remained true to John Tarleton\u2019s vision of providing a high-quality education for all<\/em> students while benefiting the communities we serve. Today\u2019s report proves our success, and we\u2019re not stopping now. The throttle is wide open.\u201d Discover more at www.tarleton.edu\/impact<\/strong><\/a>.<\/p>\n\n\n\n

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