Build Your Business with the UofM
► The University of Memphis makes significant contributions to the Tennessee economy. Graduates provide knowledge and leadership for state industries, and researchers develop new products and discover new ways to improve productivity. Through outreach, faculty work directly with clients to provide information and solve problems. The investments the University makes in its students, faculty, and facilities are reflected in graduates' interest to stay in the local area. Nearly two-thirds of graduates take up residence in Memphis for more than 10 years after entering the workforce.
► Additionally, over 80 percent of graduates remain within the State of Tennessee during the same timeframe. High retention rates translate into a strong labor pool of highly educated prospects for local businesses. This also means the state retains the value of its investments in human capital. 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.
► Beyond the University's ability to diversify and improve the quality of the state and local workforce, the broader economic contributions are notable. From an operational perspective, the University contributes nearly $1.1 billion in economic activity annually, supports nearly $500 million in wage and salary payments for local workers, and its directly or indirectly responsible for approximately 9,900 Memphis-area jobs. During the past five years, the University accounted for $4.8 billion in economic output and $2 billion in wages. It is important to note that every $1 in economic activity translates into $1.87 in total impact on the local economy.