University has a $4.6B impact on economy

November 10, 2010

The University of Alabama at Birmingham has a significant impact on the state’s economy, to the tune of $4.6 billion — and growing.

The university released a report Tuesday detailing the impact, and how it has grown $1 billion over the last two years. The university projects that the growth could reach to $6.6 billion over the next decade, if the university continues to expand as expected.

According to The Birmingham News,

“What we’re hoping to accomplish with this economic impact report is to have people realize what an investment in UAB can bring to the community,” said UAB President Carol Garrison. She said every state dollar invested in UAB brings a return to Alabama of $16, a figure the report’s author said was double Georgia Tech’s and higher than UCLA’s.

The impact comes about not only in money spent by the university, but also money spent by employees, students and visitors. The university is also planning for growing not only its student body, but its campus in the next few years.

Anyone who has lived in or visited a college town has seen first-hand the impact of campus — from buildings to research to coffee shops and restaurants geared toward students, so it’s no surprise that the university has such a large impact on the state. We’ll see how much extra funding it brings in as it continues to expand.

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