LSU has almost a $1 billion impact in Shreveport-Bossier, according to stats released today.
Earlier this month, LSU President F. King Alexander highlighted LSU’s economic impact study,compiled by the Economics & Policy Research Group at the E. J. Ourso College of Business. A parish by parish breakdown was released Friday.
Those statistics reveal an impact of $811,371,914 in Caddo and $128,529,274 in Bossier.
The full economic impact report is available online.
“LSU is truly a game-changer for the state. Through research, education and outreach, we are able to solve the greatest challenges facing Louisiana while boosting our state’s economy,” Alexander said. “We are among the 1 percent of universities able to claim the designation of land-, sea-, and space-grant institution, and that unique combination not only brings a tremendous amount of research grants to our state, but also attracts outside business and out-of-state students while simultaneously helping Louisiana retain its most talented citizens.”
The study excludes the fiscal impact of LSU’s athletics and excludes a number of factors that would ostensibly increase the university’s economic impact, including the role of college graduates and faculty as job creators, the role of the university in bringing in outside talent and business, and the collective increased lifetime earnings of all LSU graduates (not just the class of 2016).
During the 2017 fiscal year, LSU was responsible for $5.1 billion in economic impact to the state, which is effectively $1,097 per Louisiana citizen.
LSU also is directly responsible for 41,006 jobs, a total of 20,366 of which are directly attributable to the university. All told, the entire LSU entity supports 2.6 percent of all Louisiana jobs.
Collectively, 2016 LSU graduates will enjoy increased earnings totaling $8.6 billion.
LSU Health Sciences Center Shreveport contributes $595.4 million in total economic impact, $310.2 million in total earnings and 4,608 total jobs (2,443 of which are direct employment). LSU Health Sciences Center Shreveport 2016 graduates will enjoy increased lifetime earnings of $412 million combined.
LSU Shreveport contributes $87.5 million in total economic impact, $30.4 million in total earnings and 807 total jobs (436 of which are direct employment). LSUS 2016 graduates will enjoy increased lifetime earnings of $884 million combined.