The W Makes an Impact
Mississippi University for Women released the results of a study that estimates the impact on the statewide economy is more than $215 million and sustains 3,433 jobs. Th e report also found that students see a high rate of return for their investment.
W President Nora Miller said the university is a significant economic contributor to the state of Mississippi and the Golden Triangle region.
“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. Th is study articulates the extent of the value we add to the economy,” Miller said.
In the analysis, a breakdown of those expenditures for fi scal year 2021-22 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, Th e W added $97.9 million in income to the Golden Triangle plus the economies of Monroe and Noxubee counties. To put into perspective, activities of Th e W and its students supported 1,567 jobs in the Golden Triangle (plus Monroe and Noxubee).
LONG-TERM CONTRIBUTIONS HIGHLIGHTED IN THE REPORT:
- In return for their investment, students will receive a cumulative present value of $186.7 million in increased earnings over their working lives. Th is 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. Th ey also forwent $7.3 million in money that they would have earned had they been working instead of attending college.
- Th e average bachelor’s degree graduate from Th e W will see an increase in earnings of $17,400 each year compared to someone with a high school diploma working in Mississippi.
OTHER POSITIVE IMPACTS IN THE STUDY REVEALED:
- W student volunteers generated the equivalent of $6.8 million in added income.
- The net impact of Th e 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: muw.edu/economy/.
The W also released its 2022 Annual Report, which can be found at: muw.edu/annualreport/.