By:
Kristin Sullivan, UTA
The
University of Texas at Arlington has a $13.6 billion total annual impact on the
State of Texas and fuels 131,200 jobs a year, according to a new assessment of
the University’s operations, research and workforce enhancement effects on
business activity by The Perryman Group.
UT
Arlington’s impact reflects about 4 percent of the North Central Texas economy,
the study found. Economic activity associated with the University also leads to
incremental tax receipts of about $310 million a year to local governments and
$639 million to the state, the study said.
The
prominent consulting firm analyzed data ranging from enrollment and ongoing
University operations to expanding research activity and the enhanced workforce
productivity of rising numbers of UT Arlington graduates, among other factors.
The
study notes that UT Arlington has made “great strides toward becoming a
nationally recognized research institution” and said: “Through its ongoing and
expanding instructional and research endeavors, UT Arlington serves as an
ever-increasing catalyst for individual opportunity and economic and social
development.”
President
James D. Spaniolo said the Perryman report underscores the significant
advantage diverse and active research institutions give their regions and the
state overall.
“This
report clearly demonstrates the tremendous benefit UT Arlington brings to North
Central Texas and the Texas economy overall,” Spaniolo said. “Our students,
alumni and faculty provide a highly-educated workforce to our region and are
constantly advancing innovation and new technologies. Their work helps make
North Texas one of the nation’s best places to live.”
The
study also found that UT Arlington generates:
- $1.1 billion in total annual economic benefits to the state of Texas and more than 15,400 permanent jobs stemming from ongoing operations, including educational and research spending and student and visitor outlays.
- $64.5 million in incremental tax receipts to the State of Texas and $34.5 million to local taxing entities each year related to ongoing University operations.
- $502.7 million in output and 5,861 person-years of employment in the North Central Texas region related to recent and ongoing University construction projects.
Ray
Perryman, president of the The Perryman Group, said the UT Arlington study
reinforces his earlier findings about the potential economic impact additional
Tier One institutions can have on Texas.
“When
you look at the hard data, institutions like UT Arlington are major centers of
employment and spinoff economic benefits,” Perryman said.“They generate
business activity and opportunities for their immediate region, and they are
one of the state’s most important sources of talent and technology– critical
components of a healthy economy.”
He
added: “The data makes a compelling case for ongoing investment in public
institutions like The University of Texas at Arlington.”
Among
the factors fueling UT Arlington’s economic impact:
- Enrollment growth over the past five years to more than 33,200 students, a 33 percent increase. Of the University’s 163,000 alumni, about 112,000 live in North Texas.
- Record numbers of degrees conferred in the 2011-2012 fiscal year. UT Arlington awarded more than 9,000 degrees, an 18 percent increase over the previous year.
- Record levels of research activity, with $66 million in related expenditures last year.
- Record levels of recent construction activity, with the completion of the Engineering Research Complex as well as the 20-acre College Park District (as seen in photo), a residential and retail development anchored by the 7,000-seat College Park Center.
The
report concludes that UT Arlington “serves as a source of economic stimulus
through its ongoing operations and construction projects. Spinoff companies
stemming from funding research provide still more growth, and the benefits of
the enhancement of the regional workforce is sizable.”
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