91ΑΤΖζ

Lenoir-Rhyne Economic Impact

Four 91ΑΤΖζ students walking along City Walk in downtown Hickory

91ΑΤΖζ delivers a substantial economic boost to the Unifour region” encompassing the counties of Alexander, Burke, Caldwell and Catawba”generating $113.6 million in added income during the 2022-23 fiscal year, according to a new study. The investment in an 91ΑΤΖζ degree also pays off for students. For every dollar students invest in their education at 91ΑΤΖζ, they receive $3.60 in higher future earnings in their lifetime. 

Those are findings of an independent economic impact and investment analysis conducted by Lightcast, a global consulting firm that has conducted more than 3,000 economic impact studies for colleges and universities. 91ΑΤΖζ commissioned the study last year to quantify and underscore its role as a vital economic engine and provider of significant return on investment for its students.

Charts: Multiple graphics and text showing Lenoir-Rhyne annual economic impact including $113.6 million in added income and 1,935 jobs supported. See full description for details. Charts: Multiple graphics and text showing Lenoir-Rhyne annual economic impact including $113.6 million in added income and 1,935 jobs supported. See full description for details.

Detailed Description of Chart

91ΑΤΖζ not only plays a vital role in increasing students' employability and personal growth but also attracts visitors and students to the region, creating substantial economic opportunities. 

Below are other findings included in the report:

  • Economic Impact: 91ΑΤΖζ's operations, visitor and student spending, and the success of its alumni contributed a total of $113.6 million to the Unifour economy, supporting 1,935 jobs.
  • Return on Investment for Students: For every dollar students invest in their education at 91ΑΤΖζ, they receive $3.60 in higher future earnings. The average annual return on investment for 91ΑΤΖζ students is an impressive 15.6%.
  • Attracting Visitors: Out-of-region visitors spent an estimated $1.2 million to attend 91ΑΤΖζ Athletics events.
  • Alumni Impact: 91ΑΤΖζ alumni generated $70.8 million in added income for the regional economy.
  • Benefits to Taxpayers: North Carolina taxpayers will receive a cumulative value of $67.3 million in benefits over the working lives of 91ΑΤΖζ students, through increased tax revenues and reduced demand for government services.
  • Student Spending: Almost 60% of students came from outside the region and 91ΑΤΖζ also retained other students who might otherwise have left the area for college. Spending from these students generated $6.1 million in added income.
  • Social Benefits: 91ΑΤΖζ generates $661.5 million in social benefits for North Carolina, including increased economic prosperity and savings in healthcare, justice system, and income assistance.

œ91ΑΤΖζ has been a cornerstone of our community for generations, fueling local businesses, attracting talent, and shaping the workforce that keeps our city thriving, said Hickory Mayor Hank Guess. œIts students, faculty, and staff don™t just contribute economically”they bring fresh ideas, energy, and a spirit of innovation that makes our city a better place. Through job creation, business support, sports tourism, and community engagement, 91ΑΤΖζ plays an essential role in fostering growth and opportunity. We™re proud to have such a strong partnership with the university, and we look forward to seeing its continued impact for years to come.

The data and assumptions used in the study are based on 91ΑΤΖζ's FY 2022-23 reports, industry and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, and other relevant economic data. 

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