UNC Charlotte provides a healthy return on investment and net economic value to the Charlotte region, based on an economic impact study released today. Among the findings: for fiscal year 2012-2013, the accumulated contribution of UNC Charlotte to the region in terms of payroll, operation, construction, and start-up companies was $2.1 billion. For that same period, UNC Charlotte alumni currently employed in the Charlotte Service Region contributed $1.4 billion in added regional income.
Other findings about UNC Charlotte’s economic impact in FY2012-13 include:
- 14.8 percent average return on investment for taxpayers, yielding a 5.4 percent benefit-cost ratio – $5.40 returned to the region for every dollar spent.
- For every dollar spent on education at UNC Charlotte, North Carolina communities receive a cumulative value of $12.10 in added state income and social savings.
- For every dollar that UNC Charlotte students spend on their education, they can expect a return of $3.10.
- In FY 2012-13, UNC Charlotte start-up companies created $51.3 million in added regional income – the equivalency of 401 jobs.
“UNC Charlotte provides an indispensable value to our region,” said Philip L. Dubois, UNC Charlotte chancellor. “Higher education is a key economic driver in the Charlotte region. Research* has shown that for high school graduates, attaining even one year of college added significantly to the Charlotte region’s gross domestic product. This UNC study affirms UNC Charlotte’s economic value proposition.”
Dubois said that more than ever, Charlotte-area businesses and industries look to the University for student and faculty talent and partnerships to drive innovation and help spur job growth.
UNC Charlotte is North Carolina’s urban research university. Fall 2014 enrollment was more than 27,200 students, making UNC Charlotte the fourth largest campus among the 17 UNC institutions. UNC Charlotte’s growth represents 46 percent of total UNC system enrollment growth during the last six years.
The UNC Charlotte economic impact was part of an overall study for the entire University of North Carolina system, conducted by Economic Modeling Specialists International, Moscow, Idaho. A complementary study was produced for the North Carolina community college system and independent colleges and universities; those findings also were released today.
The Charlotte Service Region is identified for this study as Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union counties.
(Click to view the complete UNC Charlotte economic impact fact sheet.)
At North Carolina’s urban research university, UNC Charlotte faculty, staff and students engage in research, service and scholarship that directly contribute to the economic health, social and cultural well-being of citizens in the state’s largest metropolitan region. UNC Charlotte is the largest institution of higher education in the Charlotte region.
The full text of the UNC system report, along with statewide analysis, is available at http://www.northcarolina.edu/economic-impact-2015
*Milken Institute, “A Matter of Degrees: The Effect of Educational Attainment on Regional Economic Prosperity,” February, 2013.