April 7, 2010
A new study says Tulane, New Orleans’ nationally ranked major research university, is also the city's largest private employer and a major economic driver in the region, accounting for approximately $920 million in annual economic activity and directly and indirectly creating 10,600 jobs throughout Louisiana. The study was conducted by Appleseed, a New York-based economic development firm.
"This study quantifies Tulane University's importance to our city and state," Tulane University President Scott Cowen says. "It is gratifying to see these numbers and have empirical evidence of the contribution we make, especially in our hometown."
The study bases Tulane's economic impact on a variety of factors including the number of people it directly employees, 5,173 (excluding students); the number it employs through Tulane Medical Center, 1,764; the additional jobs created by its construction projects, research awards, purchases and student spending; the $9.9 million in annual state income taxes its payroll generates and the more than $9 million in fees for water, sewer, building permits, etc. it pays each year to state and local governments.
The study also notes that Tulane is one of the largest importers of human capital into the state, attracting high-achieving students, well-paid faculty, staff and visitors to the city, all of whom make a positive impact on the local economy.
“Tulane is a major regional enterprise,” says Hugh O’Neill, president of Appleseed. “Just as important, the university plays a central role in attracting and developing the ‘human capital’ on which the city’s and the region’s future depends.”
While bringing an influx of newcomers to the city, Tulane, one of New Orleans’ oldest institutions, is inextricably linked with the Crescent City.
Almost a quarter of Tulane alumni are Louisiana residents and 30 percent of all New Orleans residents who have an associate, bachelor's or higher degree are graduates of Tulane, according to the study.
Tulane's graduate medical education program also brings talented physicians to New Orleans. This and its research efforts in the fields of biomedicine, the environment, energy and business contribute both to the growth of the region's economy and the well-being of its people.
In addition to its economic impact, is Tulane's work in improving K-12 public education and health care in New Orleans and its award-winning efforts to rebuild and renew the city after Hurricane Katrina. This includes being the only major research university in the country to integrate public service into the core curriculum for all its students.
"Simply put, New Orleans would not be the same kind of city without Tulane," Cowen says, "And we would never be able to offer students the full richness of a Tulane education anywhere else in the world."
The full economic report can be found at http://riptide.me/Bu while an executive summary can be found at: http://riptide.me/Bt
Tulane University, New Orleans, LA 70118 504-865-5000 email@example.com