Alabama State University officials have announced the results of a one-year study that measured the economic impact of the University in Alabama and specifically in the Montgomery regional area. The announcement came during a news conference held on July 8, 2011, in the Board of Trustees conference room located in the Dunn-Oliver Acadome.
The study, conducted by the Washington Economics Group, of Coral Gables, Fla., shows that the University’s operations and related activities have a $901 million impact on the state’s economy and in particular the economy of the three counties that comprise the River Region. The study further reported that the University “is a powerful catalyst of economic development for the state and for the River Region in particular.”
ASU President William H. Harris and other University representatives were joined in making the announcement by more than 40 officials including Montgomery County Commission Chairman Elton N. Dean; Montgomery Mayor Todd Strange; Montgomery city council members; officials from Montgomery, Elmore, and Autauga counties; state officials; local business leaders; and ASU trustees.
“We want to share this news because our long-term development secures a bright future for our children and grandchildren,” President Harris said. “We want others to know the importance of the University so they will become partners with us. These numbers reinforce the importance of Vision 2020.”
In addition to the annual $901 million state-wide impact, the University generates 10,500 jobs.
“We are delighted to hear these figures,” Montgomery County Commission Chairman Elton Dean said. “When the county commission wants to help the University, some people ask, ‘Why?’ Because they generate this kind of money. That’s why.”
“Wow!” Montgomery Mayor Todd Strange exclaimed. “We always knew the University had a big impact. Now we know how big.”
He compared the University’s impact to the military’s $1.4 billion and Hyundai’s $1.5 billion impact.
Referring to the University’s location near the center of the city, Mayor Strange described how the University and city council were working together to build one community — not two communities divided by an interstate.
Read Full Story at Alabama State University