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Tulane University is a $1 billion economic engine for Louisiana

June 26, 2015

Mike Strecker
Phone: 504-865-5210
mstreck@tulane.edu

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Tulane generates approximately 11,800 direct and indirect jobs within the state of Louisiana

As the largest private employer in New Orleans and a regional magnet for talent and innovation, Tulane University has a more than $1 billion annual impact on the Louisiana economy, generating approximately 11,800 direct and indirect jobs within the state, according to a newly released economic impact study.

The university has a more than $982 million impact in the New Orleans region alone, indirectly and directly creating more than 11,500 jobs in the area, according to the report compiled by New York City economic development firm Appleseed.  

“Tulane University has a unique and vital role in the New Orleans community not only as its largest private employer and a major research institution, but also as a significant source of ‘brain gain’ for the region,” said Tulane University President Michael Fitts. “Our students come from across the country and, after completing their studies, many choose to stay to start their own ventures or continue their careers in the region.”

The study calculated Tulane’s economic impact using the university’s fiscal year 2013 expenditures in salaries, purchasing, construction, research funding and operational costs and as well as income created by student and visitor spending and ancillary services.

The findings include:

• Tulane directly employed 5,797 people (excluding students) in Fall 2012, a 33 percent increase since 2006. The average salary for full-time employees was significantly higher than the region’s private sector average.

• Off-campus spending by students from outside of New Orleans totaled $133.5 million, directly supporting 1,520 full-time equivalent jobs; visitor spending totaled $46.5 million, supporting 641 jobs.

• Tulane spent nearly $435 million on goods and services, including nearly $70 million to local companies. It invested $131.9 million in campus construction and renovation projects between 2009-2013.

• Tulane research totaled $160.5 million, attracting millions in federal grant funding to the region and supporting key growth areas in biomedical science and engineering, energy, coastal protection and cultural arts.

• Tulane probably taught your doctor. More than 2,000 graduates of the School of Medicine live in the area; 426 residents and fellows were enrolled in graduate medical education.

Full report available at http://tulane.edu/economic-impact/. Summary available at: http://tulane.edu/economic-impact/upload/Tulane-Executive-Summary-June24-15.pdf

Tulane University, New Orleans, LA 70118 504-865-5000 website@tulane.edu