USC system, alumni pump $4.1 billion into state’s economy annually
Margaret M. Lamb, Margaret@mailbox.sc.edu, 803-777-5400
The University of South Carolina and its alumni drive the state’s economy by supporting nearly 53,000 jobs – about 1 in every 37 jobs in South Carolina – and pumping $4.1 billion dollars into the state’s economy every year.
The figures were released Thursday (Jan. 12) by Darla Moore School of Business economists Joey Von Nessen and Doug Woodward.
The university’s eight campuses, which employ 14,000 people, and their 155,000 alumni in the Palmetto State contribute $75 million more to the state in taxes than USC receives in state appropriations, Von Nessen said.
“This is a key finding of this study because it shows that in carrying out its mission to educate South Carolinians, USC also helps to generate a sizable amount of revenue for the state,” Von Nessen said.
“The economic impact of the University of South Carolina is sweeping,” USC President Harris Pastides said. “Education is acknowledged as the path to economic success and increased quality of life for individuals. However, these results illustrate the benefits, including economic prosperity, that the University of South Carolina contributes to our state’s citizens in every community regardless of their connection to Carolina.”