In a study commissioned by the United Negro College Fund, the significant economic contributions of Texas College have been undoubtedly reaffirmed. Through the production and consumption of various goods and services by Texas College’s faculty, staff, and students, the College serves as a catalyst for economic growth locally and regionally. This dynamic creates a ripple effect, leading to increased employment opportunities, heightened economic expansion and a flourishing community environment.
As an economic engine, Texas College breathes significant fiscal life into the local and regional community. To illustrate the College’s monumental economic contributions at a macro level, three economic elements are provided: 1) Total economic impact; 2) Total employment impact; and 3) Total lifetime earnings of graduates (2021).
Texas College generates $24.9 Million in total economic impact for its local and regional economies. This estimate includes direct spending by the college on faculty, employees, academic programs and operations, and by students, as well as the follow-on effects of that spending. Every dollar spent by Texas College and its students produces positive economic benefits, generating $1.22 in total spending for its local and regional economies. Communities and regions hoping to foster a more robust and diversified economic climate find HBCU-connected spending a critical component of that effort.1
Texas College generates 232 jobs for its local and regional economies. Of this total, 74 are on-campus jobs and 158 are off-campus jobs. For each job created on campus, another 2.1 public- and private-sector jobs are created off campus because of Texas College related spending. Looked at in a different way: Each $1 million initially spent by Texas College and its students creates 11 jobs.1
Texas College plays a major role in the economic success of its graduates by enhancing their education, training and leadership skills. A college degree opens the door to economic prosperity through greater employment and earnings potential. In fact, the 96 graduates in 2021 can expect total earnings of $266.2 million—that’s 77% more than they could expect to earn without their college credentials.1
Or viewed on an individual basis, a Texas College graduate working full-time throughout his or her working life can expect to earn $1,204,904 in additional income due to a college credential.1
The aforementioned information, data, and statistics presented derive from UNCF’s 2024 HBCU Economic Impact Report, Transforming Futures: The Economic Engine of HBCUs, commissioned by UNCF’s Frederick D. Patterson Research Institute in collaboration with the Selig Center for Economic Growth, Terry College of Business, at the University of Georgia.
1 McClendon, N., Kouaho, JE., Njoku, N., Murray, L.V. & Humphreys, J. (2024). Transforming Futures: The Economic Engine of HBCUs. Frederick D. Patterson Research Institute, UNCF
