University
also adds $408M in wages as Murfreesboro’s second largest employer
MURFREESBORO,
Tenn. — Middle Tennessee State University is responsible for about 8,400
jobs across the state, which generates $1.12 billion in revenues and over $408
million in wages and salaries, a new economic report released Tuesday (June 27)
shows.
The report by the
Business and Economic Research Center in the Jones College of Business shows
MTSU, as Murfreesboro’s second-largest employer, is also responsible for
generating $88 million in local, state and federal tax revenue.
“There is no question that
Middle Tennessee State University is unrivaled in what it brings to the table
for our city, county and region,” MTSU President Sidney A. McPhee said at an
event held at the Rutherford County Chamber of Commerce.
“Much of who we are now,
and what we want to become in the future, depends upon the continued health and
prosperity of your university,” McPhee said.
The study shows MTSU is
responsible for almost 8,400 jobs across Tennessee. Of that total, 2,259 of
those jobs come from MTSU’s direct employment.
“But, when you combine
the jobs that come as a result of our employees living and buying in our
community, that total goes up to nearly 3,400 jobs,” McPhee said.
And, the president noted
spending by students accounts for more than 1,800 jobs alone.
“I hope each and every
one of us here today appreciates the vast and significant economic impact that
our student population brings to the local economy,” he said.
Rutherford Chamber
President Paul Latture called MTSU “truly an economic engine with an impact
that adds to the growing landscape of a region that is one of the fastest
emerging in the nation.”
Said Latture, “We are
grateful to have MTSU in Rutherford County, and we look forward to more great
things to come in the future.”
That sentiment was echoed
by Chamber Chairman David Urban, dean of the Jones College of Business: “This
study provides additional proof of the profound impact that MTSU has on our
region and the state.”
“MTSU is unquestionably a
key generator of economic development,” Urban said.
The study confirms that
90 percent of MTSU students are from Tennessee. And it confirms that 78 percent
of MTSU alumni live in Tennessee.
“This means, simply, that
we are more than fulfilling our mission to educate Tennesseans and, even
better, most of those we educate stay in Tennessee,” McPhee said. “That means a
better educated, more capable workforce for our state.”
To that point, in the
area of skilled workforce development, McPhee said MTSU graduates account for
one in every two adults with a higher education (bachelor’s degree and above)
in Rutherford County.
And, he said, MTSU
graduates account for one in every five adults with a higher education
(bachelor’s degree and above) degree in the Nashville metro area.
“In other words, we’re
not just keeping students from Rutherford, we’re keeping many of those
college-educated students who hail from other parts of Tennessee,” McPhee said.
McPhee pointed to
Murfreesboro Mayor Shane McFarland as an example of MTSU’s ability to retain
talent who came to the city from elsewhere. He pointed out that the mayor first
arrived to the city as an MTSU student from Grundy County.
Outside of Rutherford
County, McPhee said, MTSU keeps 85 percent more students in the Nashville Metro
area than we enrolled as freshmen. “That means our entire area benefits from
this continuous flow of graduates,” he said.
Finally, McPhee reminded
that MTSU is a source of diverse cultural, academic, business, community,
educational, and sports events and activities. “That not only contributes to
the quality of life of our citizens,” he said, “that also brings dollars to
this area.”
The study shows MTSU
brings nearly 500,000 people to Rutherford County each year; spending by
visitors accounts for more than $56 million; and that translates to almost 830
jobs.
Bill Jones, chairman of
the Rutherford County Industrial Development Board, said “it cannot be overstated how important MTSU is
to Rutherford County specifically and to the entire Middle Tennessee region as
a whole.”
“The
financial impact of having a large, major university in your community is
something this study clearly demonstrates and now exceeds $1 billion in the
region,” Jones said.
“The
impact on the quality of life owing to having an institution of higher learning
the quality of MTSU in Rutherford County enhances everything about our
community, from athletics to arts to science, and everything in between.”
For more information
about MTSU’s Business and Economic Research Center, contact Director Murat Arik
at 615-898.5424 or visit
http://www.mtsu.edu/berc/index.php.
No comments:
Post a Comment