Russellville, AR (News Release) – International labor market data firm Emsi has completed a study of the annual economic impact that Arkansas Tech University makes on the state that it serves.
The study discovered that statewide ATU added $526.5 million in income and supported 8,574 jobs during the 2017-18 fiscal year.
On a regional level, the study revealed that ATU added $330.5 million in income to the Arkansas River Valley during the 2017-18 fiscal year and that the university’s impact supported 5,658 regional jobs.
Emsi reported that one in every 33 jobs in the Arkansas River Valley economy is supported by the presence of ATU and that the impact of ATU student spending in the seven-county region during 2017-18 was $11.5 million.
The study found that the annual rate of return for ATU students is 20.5 percent. According to the Emsi report, for every $1 ATU students invest in their education they can anticipate an average of $5.30 in higher future earnings.
Furthermore, the Emsi study states that for every dollar of public money invested in ATU, taxpayers will receive $3.70 in return over the course of ATU students’ working lives.
Emsi also explored how society benefits from the presence of ATU. The study concluded that for every dollar invested in education provided by ATU, Arkansas will receive $12.40 in societal benefits for as long as Arkansas Tech’s 2017-18 students remain active in the state workforce.
“This report demonstrates that Arkansas Tech University is fulfilling its mission and responsibilities to facilitate student success while providing value for the taxpayers of Arkansas,” said Dr. Robin E. Bowen, ATU president. “We are an Arkansas-serving institution. More than 93 percent of our students call this state home. The numbers show that ATU is an engine for economic development in Arkansas and a place that creates transformative, positive social mobility for Arkansans.”
Interested parties may request more information about the ATU economic impact study at www.atu.edu/ir/request_eis.php.