University of Arkansas Has Huge Impact on NW Arkansas

The University of Arkansas’ flagship campus is located in Fayetteville, right where it’s been since it was founded in 1871. The university offers more than 200 graduate and post-graduate programs and its research, development, and outreach aids local public and private sectors.

None of that is news to most folks but I wonder how many of us ever stop to think about the overall economic impact the university has in NW Arkansas…

$725.4 million for the fiscal year ended June 30, 2009 was the amount concluded by an exhaustive study recently produced for the Office of the Chancellor. The study looked at direct expenditures by the university as well as spending and taxes paid by faculty, staff, students and visitors.

A few examples include payroll of $246 million, direct expenditures to NW Arkansas businesses by the university of $56.9 million, student expenditures of $173.7 plus visitors added an additional $127.5 million to the local economy.

Not only are those numbers huge, they must be extrapolated many times over to take trickle-down factors into consideration. Most of that payroll is spent locally. Homes and vehicles are purchased, state and local taxes paid, children of faculty and staff are enrolled in schools, contributions made to local churches and charities, restaurants, medical professionals, gas stations, clothing stores – the list is endless.

If University of Arkansas were not here, this area would have an entirely different landscape.

Go Hogs!

Read the entire 106-page report:

http://www.uark.edu/rd_vcad/economicImpact/rd_vcad/documents/The_Economic_Impact_of_the_University_of_Arkansas_Final_Version_for_Print.pdf