EAST TEXAS BAPTIST UNIVERSITY MAKES A SIGNIFICANT IMPACT ON THE REGIONAL ECONOMY
Tuesday, July 06, 2021
In servicing their Christ-centric mission East Texas Baptist University announced that an Economic Impact Report has concluded that the university has a profound economic impact on the region’s economy.
The study concluded that East Texas Baptist University contributes $63,185,453 to the local economy. The economic impact study revealed that East Texas Baptist University produced $46,232,131 in direct spending and $16,953,322 in induced spending.
Direct spending includes money spent on employee salaries and benefits, capital projects, university purchases, as well as student and visitor spending in the community. Induced spending is defined as employment and expenditures provided by local industries as a result of the direct spending of East Texas Baptist University.
“ETBU shares a vision for economic development through collaborative partnerships with local and regional business, industry, and education,” East Texas Baptist President, Dr. J. Blair Blackburn said, “The University invests in the area economy to advance the community forward in creating employment opportunities, developing our workforce, and retaining talented people in our City and County. We strive to ensure that our faith integrated with our work adds value to the quality of life in East Texas as we unite hearts and minds for the betterment of our citizens and our community.”
ETBU is one of the largest employers in Harrison County, and a student enrollment growth of over 33 percent in the last six years has prompted the construction of new facilities on campus and revitalization in downtown Marshall.
The renovation of existing learning-living space and the construction of new educational facilities results in an infusion of money in the local economy.
Presently, ETBU is investing over $500,000 to restore the Marshall Grand’s 8th floor Grand Hall (formerly the Hotel Marshall’s Rooftop Garden), a large banquet hall space for University and community events.
The upcoming construction of ETBU’s Great Commission Center and home to the Fred Hale School of Business will be a catalyst for the local economy with an investment of over $8,000,000 into the city of Marshall and Harrison County.
Construction tradespeople and building resource/service businesses from across the city and region will partner with ETBU in creating this magnificent multi-purpose facility for academic learning, business and entrepreneurial leadership training, career development, and missions/ministry.
East Texas Baptist University is proud to be located in Marshall and aims to be a good neighbor through service and care for the citizens of the community. ETBU demonstrates care to the community as faculty, staff, and students participate in community life, including service in local schools and churches.
“ETBU students, faculty, and staff make an impact in the community in a multitude of ways as they serve alongside other citizens in local schools, congregations, and other non-profit agencies,” Dr. Blackburn added. “The University also makes an impact through institutional programs including our Neighborhood Renewal Initiative and as students serve through the Great Commission Center. Our service to the community is part of our identity, but ETBU’s notable economic contribution makes a significant impact on the region.”
The economic impact study was commissioned by the Independent Colleges and Universities of Texas (ICUT) and was conducted by economics professor Mark Paul Gius, Ph.D. of Quinnipiac University.