Study: The W creates $215 million economic impact; university releases annual report
COLUMBUS, Miss. — Mississippi University for Women is a significant economic contributor to the state of Mississippi as well as the Golden Triangle region, according to a recently released economic impact analysis.
The university’s economic value to the state totaled more than $215 million during fiscal year 2021-22. Expressed in terms of jobs, The W’s impact supported 3,433 jobs.
W President Nora Miller said, “The W contributes to our local and statewide economy by supporting jobs and with what we spend, but we also provide a highly educated workforce for employers. This study articulates the extent of the value we add to the economy.”
A breakdown of those expenditures included $27.6 million in operations spending, $2.4 million in student spending, $2.1 million in construction spending, $0.9 million in visitor spending, $6.8 million in volunteerism impact and $175.5 million in alumni impact.
Closer to home, The W added $97.9 million in income to the Golden Triangle plus Monroe and Noxubee’s economy. To put into perspective, activities of The W and its students supported 1,567 jobs in the Golden Triangle (Monroe and Noxubee).
The study further showed that students see a high rate of return for their investment at The W:
- In return for their investment, students will receive a cumulative present value of $186.7 million in increased earnings over their working lives. This translates to a return of $8.30 in higher future earnings for every $1 dollar students invest in their education.
- FY 2021-22 students paid a present value of $15.1 million to cover the cost of tuition, fees, supplies and interest on student loans. They also forwent $7.3 million in money that they would have earned had they been working instead of attending college.
- The average bachelor’s degree graduate from The W will see an increase in earnings of $17,400 year compared each year compared to someone with a high school diploma working in Mississippi
Other ways economic activity generated by the university touches the region and state economy:
- W student volunteers generated an impact of $6.8 million in added income.
- The net impact of The W’s former students currently employed in the state workforce amounted to $175.5 million in added income.
- For every dollar of public money invested in The W, taxpayers will receive $1.90 in return, over the course of students’ working lives. The average annual rate of return for taxpayers is 3.2%
- For every dollar invested in The W, Mississippians will receive $6.60 in return, for as long as the university’s FY 2021-22 students remain active in the state workforce.
The economic impact analysis was commissioned by Lightcast, a global leader recognized in labor market analytics.
The full economic impact study is available at: https://www.muw.edu/economy/.
The W also released its 2022 Annual Report, which can be found at: https://www.muw.edu/annualreport/.
FOR IMMEDIATE RELEASE
March 29, 2023
Contact: Anika Mitchell Perkins