The University of Central Arkansas added $1.01 billion in income to Arkansas’ economy and supported 19,506 jobs during the fiscal year 2018-19, according to a recent study that measures the economic impacts and returns on investment of the university to its students, taxpayers and society.
The results of the study, conducted by data company Emsi, were announced during the Board of Trustees meeting on Aug. 14.
During the analysis year of this study, UCA alumni generated $878.4 million in added income for the state economy, which is equivalent to supporting 16,920 jobs.
From a taxpayer perspective, the study indicates that UCA generates more in tax revenue than it takes. Benefits to taxpayers take two forms: taxes that the state and local government collect from the added revenue created in the state, and savings generated by the improved lifestyles of UCA students and the corresponding reduced government services. For every dollar spent by taxpayers, they receive $2.20 in added tax revenues and public sector savings over the course of the students’ working lives.
The study reveals that for every dollar invested in UCA, Arkansans will receive a cumulative value of $8.60 in benefits. The benefits of this investment will occur for as long as UCA’s FY 2018-19 students remain employed in the state workforce.