STEPHENVILLE, Texas — Tarleton State University generated an estimated $2.9 billion in total economic impact to Texas and $1.7 billion for the region in FY 2022-23, according to an independent study by the global research firm Lightcast.
The study measured the economic impacts created by Tarleton State on the business community and the benefits that the university generates in return for the investments made by its key stakeholders — students, taxpayers and society.
“Centered around student success, we are expanding access, opportunity and affordability to life-changing education,” said Tarleton State President Dr. James Hurley. “As our enrollment rises each year, we fill the workforce with more talented and driven Texans who change the world for the better. This directly impacts economic growth in our state.”
For FY 2022-23, Tarleton State alumni generated $2.3 billion in added income for the Texas economy, equivalent to supporting 23,283 jobs. Much of the impact was felt regionally, where alumni produced $1.1 million in added income.
“Now, more than ever, the world needs more Tarleton State Texans,” said Dr. Hurley. “After receiving a world-class education and training during their time as students, our alumni provide a transformative impact to employers. We are dynamic innovators ready to make a difference.”
In return for their investment, Tarleton State students receive a stream of higher future earning that will continue to grow throughout their working lives. On average, Tarleton bachelor’s degree graduates can expect to earn an undiscounted $1.4 million more than high school graduates over their working lives in Texas. The benefits for a master’s degree graduate over a high school diploma are $1.8 million.
The benefit-to-cost ratio for students remained strong, as for every dollar students invest in Tarleton State, they receive a cumulative value of $6 in higher future earnings. That is an annual interest rate of return of 23.9%, more than double the U.S. stock market’s 30-year average rate of return of 10.1%.
Additionally, Tarleton State students will contribute a present value of $229.6 million in tax revenue to the state government over the course of their lives.
The university also promotes economic growth in Texas in numerous ways.
With a focus on innovation and entrepreneurship, many startup companies are created specifically to license and commercialize Tarleton State technology or knowledge. In FY 2022-23, startup companies with a strong and clearly defined link to the school added $361.3 million in income to the state economy, equivalent to supporting 4,308 jobs.
Research activities added $23.2 million in added income for the Texas economy and construction spending $21.9 million. Visitors delivered a meaningful impact to the region as well, with their off-campus expenditures accounting for $37 million in added income. For student spending in the region, the total was $72.6 million.
In rural communities across the Lone Star State, the total alumni impact was $146.6 million, equivalent to 1,894 jobs supported.
“As we celebrate 125 Years of Excellence at Tarleton State, we also look ahead to a bright future,” said Dr. Hurley. “This report serves as a testament to the outstanding work contributed by faculty, staff and students. We are well on our way to being the premier comprehensive university in the nation.”
Data produced by the U.S. Bureau of Labor Statistics and the U.S. Census Bureau, along with academic and financial reports from the university, were among the sources that contributed to the study.
To learn more, visit www.tarleton.edu/impact.
A founding member of The Texas A&M System, Tarleton State University is breaking records — in enrollment, research, scholarship, athletics, philanthropy and engagement — while transforming the lives of approximately 18,000 students in Stephenville, Fort Worth, Waco, Bryan and online. For 125 years, Tarleton State has been committed to accessible higher education opportunities for all while helping students grow academically, socially and professionally through programs that emphasize real world learning and address regional, state and national needs.