$1 billion in economic output. $500 million in labor income. Nearly 10,000 jobs. These
are just some of the impressive statistics to come from the latest economic impact
analysis conducted by Applied Analysis for the University of Memphis.
With roughly 6,600 employees, the UofM is one of Tennessee’s largest employers, directly and indirectly impacting the lives of tens of thousands of residents, including 22,000 enrolled students. From an operational perspective, the UofM contributes nearly $1.1 billion in economic activity annually, supports nearly $500 million in wages and salary payments for local workers and is directly or indirectly responsible for roughly 9,900 Memphis-area jobs.
A single University of Memphis graduating class increases incomes within the State of Tennessee by nearly $110 million annually. During the past decade, graduating classes earned a combined $2.1 billion statewide. As the University continues to grow, these graduate-based earnings impacts will naturally follow suit. Importantly, the University recorded its largest graduating class in school history in 2020.