New study finds Auburn University has $6.3 billion impact on state of Alabama

AUBURN, Ala., Nov. 1, 2023 /PRNewswire/ -- Auburn University and its alumni make a $6.3 billion economic contribution to the state of Alabama, including creating more than 30,000 jobs in addition to university employment, according to a new study.

"Auburn is hard at work for the state of Alabama and continues to be a critical economic engine for the state in building meaningful partnerships through impactful outreach, fostering innovation in the way of renowned research and fueling a talent pipeline of highly successful alumni," said Auburn President Christopher B. Roberts.

The Auburn University Economic Impact Study's findings detail a 12% contribution increase by the university since the previous study that was released two years ago. The $6.34 billion impact is realized through two primary measures — $2.53 billion in direct and indirect economic impact combined with $3.81 billion in the earning power of its graduates who reside in the state. All total, the university is responsible for creating a total of 30,296 jobs in addition to its own direct employment, according to the study — which has been performed since 1996 by Auburn's Division of University Outreach.

The latest study notes how Auburn continued its substantial contribution to the state even during the COVID-19 pandemic.

"The COVID-19 pandemic and the resulting international economic downturn caused significant restrictions on Auburn's business, travel, instructional delivery, campus activities and other operations during the last study," the 2023 study states. "Auburn's robust institutional capacity and nimble operating responses during COVID allowed the institution to mitigate some of the downturn's effects and still return a modest increase in impact and overall economic contributions during that challenging year."

The study lists Auburn's instruction, research and outreach resources, active faculty and student engagement and extension presence across the state as major assets for Alabama communities. Researchers based the study on recent statistical and financial data from Auburn's main campus, Auburn University at Montgomery, the Alabama Agricultural Experiment Station and the Alabama Cooperative Extension System, which has offices in all 67 counties.

The study notes the 170-acre Auburn Research Park that provides a business and research environment that fosters creativity and innovation, embraces collaboration and promotes partnership. Auburn's Research and Innovation Campus at the Huntsville Research Center is listed as well for its efforts in promoting collaboration in Alabama's aerospace and defense sector. Additionally, the study points to the headquarters for the Alabama Agricultural Experiment Station, which conducts scientific research supporting Alabama's agricultural and forestry industries.

"Auburn University's significant economic impact across the state not only speaks to the value Auburn University adds to the financial wellbeing of Alabama but even more so to the value our institution adds to the quality of life for Alabamians through education, research and outreach," said Royrickers Cook, vice president for University Outreach and associate provost.

SOURCE Auburn University