$3 Billion: University of Arkansas' Annual Economic Impact to the Natural State
Expanding economic opportunity across Arkansas is part of the land-grant mission
of the University of Arkansas.
The U of A delivers a staggering $3 billion economic impact to the state via workforce development, applied research and innovation, student expenditures, visitor spending, construction and operations.
The U of A further enhances the state’s economy by fulfilling its land‐grant mission of preparing its graduates for successful careers, growing ideas and applying innovations to support industries and small businesses alike. And as impressive as the numbers are, they only hint at the positive impact the U of A makes in the lives of its students, the businesses the university supports and the graduates who better our state and world.
U of A Workforce Impact
The university’s graduates are making a positive difference in every county in Arkansas
and contributing mightily to the state’s economy. And with record enrollment, more
students are on the road to joining the Arkansas workforce.
The U of A’s more than 87,000 alumni in Arkansas earned $3.4 billion in wages, or 7.4 percent of the state’s total wages in 2023. They paid $192.2 million in taxes in the State of Arkansas.
More than 33,600 students are enrolled at the U of A this year, including a new high for the number of Arkansans enrolled, both setting records for the fourth year in a row.
More than 6,000 students graduated in the class of 2023.
The graduating class of 2023 had a career placement rate of 93%. Their average starting salary was $60,457.*
*Career placement rate includes employment, continuing education, volunteering and military service. Nearly 75% of U of A graduates in the class of 2023 completed the career placement survey.
Driving Arkansas Business
U of A economic development programs and initiatives contribute to the state in ways
that go far beyond our direct $3 billion impact. The university helped create and
expand businesses throughout Arkansas that generated $733.8 million dollars of economic
impact. Those businesses paid $25.9 million in taxes to the State of Arkansas.
U of A students and alumni have started 107 active businesses since 2019. These businesses support more than 300 jobs and generate an ongoing economic impact of $52.1 million and tax collections of $2.4 million.
Arkansas businesses supported by the U of A’s World Trade Center increased or generated new exports worth $191.5 million since 2020. The economic impact of the increased exports from Arkansas businesses was $550.0 million and supported more than 5,000 jobs, while more than $19.3 million in state and local taxes were generated by these activities.
54 new businesses were created with the consulting services of the U of A Arkansas Small Business and Technology Development Center in 2023. They generated an economic impact of $131.8 million and state and local taxes amounting to $4.2 million, in addition to supporting over 570 jobs.
Record Research and Innovation
U of A research drives innovation and delivers life-changing discoveries to Arkansans.
The university is conducting research at a record rate, investing in applied research
infrastructure at an unprecedented level and transferring U of A technology to the
marketplace.
Research expenditures were a record $221.5 million in 2023, up 20.3 percent from 2022 and 34.7 percent from 2021.
The university received more than $136.8 million in research awards in 2023.
university researchers disclosed 93 inventions, filed 47 new patent applications and were granted 18 patents.
The university invested more than $136 million of its own resources into applied research facilities since 2021.
Student and Visitor Impact
Students and visitors to the U of A spend hundreds of millions of dollars that grow
business and support the state’s economy.
Spending by students contributed $569.4 million and generated $17 million in state and local taxes.
Visitors to campus and athletic events provided an economic impact of $262.2 million.
Supporting our Land-Grant Mission and Growing the Arkansas Economy
The university’s economic impact of over $3 billion includes $2.5 billion in recurring operational impacts and $522.4 million in one-time construction impacts.
These efforts supported almost 19,000 jobs in 2023.
The university had direct Arkansas expenditures of $1.1 billion.
The operations of the university and associated economic activities contributed more than $126.2 million in state and local taxes in the form of income taxes, business taxes, property taxes, sales taxes and other taxes.
Outstanding Return on Investment
$1 $13.69
In the 2023 fiscal year, the $220.3 million in state appropriations* to the university
were leveraged 13.69 times. Put another way, each dollar appropriated by the state
of Arkansas to the university helped generate an economic impact of $13.69.
*This figure includes money appropriated to the university, the Division of
Agriculture Experimental Station and the Arkansas Archaeological Survey.
Providing More Than $344 Million in Taxes for Arkansas
Graduates of the university in Arkansas paid $192.2 million in taxes in the state; businesses that the university helped launch or expand paid $25.9 million in taxes in the state; while the operations of the U of A and associated economic activities contributed more than $126.2 million in state and local taxes in the form of income taxes, business taxes, property taxes and other taxes.