Clemson University makes $ 6.4 billion economic impact in South Carolina – GSA Business

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An independent study of the economic impact, published at the Clemson Board of Trustees on February 6, put in the state economic impact of the university at $ 6.4 billion.

This impact is managed by university operations, capital investments, labor development, events in athletics and expenses for students and visitors, according to university news.

The independent report, prepared by Econsult Solutions Inc., says that every dollar South Carolina invests at the University of Clemson, generates $ 35 in economic production, according to the statement.

The university said in a statement that the assessment intensified the role of Clemson as the main driver of economic growth and the development of the labor force and reinforced the institution’s commitment to his mission for teaching, research and service. Total economic products have led to $ 37,100 across the country and generates $ 114.4 million annual state tax revenue, the statement said.

“Ever since the Clemson doors were opened in 1889, our university seeks to provide high quality education and impactful research by South Carolina citizens, and our grant mission also causes us to improve the life and economic prosperity of our country”, ” President Jim Clements said in the announcement.

Additional findings show that Clemson’s influence is powerful in the state, where it contributes to an economic impact of $ 4.9 billion and supports 27,900 jobs. As a key engine of research, workforce development and industry cooperation, Clemson plays a critical role in strengthening the region’s economy, the statement said.

“We are grateful for our talented and dedicated teachers, students and staff in the state for being passionately dedicated to leading the impact on southern Carolini everywhere,” said Senior Vice President of Foreign Affairs Angie Leidinger. “Our work is supported by strong support by state and federal legislative partners and our numerous corporate partners that cover the most viable industries of the state.”

Clemson officials say that the institution partners with the South Carolina industry to develop the economic development of the state through experience in training, the scholarships stimulated by the industry to achieve mutual goals and to achieve the economic goals of the state in meaningful ways.

Beyond South Carolina, Clemson’s total economic impact reaches $ 10.6 billion across the country, supporting 54,000 jobs in the United States and stimulating innovation through the highest level of the R1 research institution, according to the report.

The University has doubled its research from 2013, reporting more than $ 334 million in the cost of research and development for the fiscal year, ending June 30, 2024.

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Through its research, Clemson is a reliable source of innovation for key industrial sectors in South Carolina, including automotive, energy, production, health, educational and agricultural industry, among others, the statement said. The university’s research priorities have been informed by the needs of the state and the Clemson strategically managing innovative campuses, research centers and offices for expanding in South Carolina to spread the benefit of its efforts to develop research and labor.

“Our research is to transform life into South Carolina through the development and innovation of the workforce, which reaches every corner of the state,” said Bob Jones, a provocateur and Executive Vice President of Academic Affairs. “The impact is central to our Clemson Elevate strategic plan. We are passionate about changing and working closely with the local industry, state agencies, healthcare providers, educational institutions K-12, agricultural sector, national laboratories and many other associates to maximize our economic impact. “

Other research and developments between the fiscal year ending June 30, 2020, in the fiscal year ending June 30, 2023, include:

• 79 new patent applications
• 218 invention discoveries
• 10 formed start -ups

Fifty -eight percent of Clemson’s graduates remain in South Carolina, according to the statement. In addition, 97% of graduates were hired or pursued further education within six months after graduation and report an average 10-year profit of $ 72,000.

According to the college, the average 10-year profit of Clemson’s graduates is $ 71,513, which is higher than other partner institutions.