News alert: LSU had $5.1B economic impact on Louisiana in 2017 fiscal year
LSU had a $5.1 billion in economic impact in Louisiana during the 2017 fiscal year, or $1,097 per citizen, according to a new report from the E.J. Ourso College of Business. In East Baton Rouge Parish, the university had an economic impact of roughly $1.8 billion and was responsible for 6,837 direct jobs, the report says.
Unveiled by LSU President F. King Alexander, the report takes a look at the economic impact of the LSU System at the state and parish level, as well as outside of Louisiana.
It’s the first report by LSU faculty that drills down to the economic impact on each of the state’s 64 parishes. The report also includes the impact of each LSU System campus, including the LSU AgCenter, LSU Health Sciences Center New Orleans, Pennington Biomedical Research Center and the flagship campus in Baton Rouge.
Alexander unveiled the report during an address at LSU-Shreveport, the first stop of a statewide tour titled “LSU 2025: Challenge Accepted | LSU’s Role in Addressing the Biggest Problems Facing our State-and our Nation.” The address ties into the university’s strategic plan.
The tour, which will stop at every LSU System campus, aims to demonstrate LSU’s collective ability to address the state’s most difficult problems—like coastal erosion, poor health outcomes and energy dependency, among others—through research, education and intellectual capital. The Baton Rouge stop will take place at 11 a.m. on Friday, Feb. 16, at the Union Theater on the LSU campus.
“LSU is recommitting to its land grant mission of research, education, and service for the benefit of our state,” Alexander says in a statement. “The entire LSU family has a responsibility to help secure an even brighter future for Louisiana, with each campus playing a distinct and vital role in paving the path forward. The mantle of finding solutions to the state’s most pressing problems is upon our shoulders. And to that, we say: challenge accepted.”
Statewide, LSU is directly responsible for 41,006 jobs, according to the report. A total of 20,366 are directly attributable to the university. All told, the entire LSU entity supports 2.6% of all Louisiana jobs. And collectively, 2016 LSU graduates will enjoy increased earnings totaling $8.6 billion, the university says.
As for East Baton Rouge Parish, 2016 graduates have an increased lifetime earnings of roughly $1.9 billion. The flagship campus in Baton Rouge had a total economic impact of $2.7 billion. The university system has a $139 million economic impact outside of Louisiana.