Hardin-Simmons University Contributes $181 Million to Texas’ Regional Economy in 2024

Hardin-Simmons University (HSU) generated a $181 million regional economic impact to the state of Texas in 2024, according to the Independent Colleges and Universities of Texas (ICUT). The report highlights the significant role that higher education institutions like HSU play in driving the state’s economic growth.

In total, Hardin-Simmons University’s direct spending—by the institution, its employees, students, and visitors—amounted to $97 million, with an additional $68 million generated through indirect and induced spending. Furthermore, $16 million was generated by the 38% of alumni who remained in the region, while $21 million was contributed by the 87% of alumni who stayed in Texas.

“As we work to prepare the next generation of leaders, we are reminded of the words of Jeremiah 29:7, which encourage us to seek the peace and prosperity of the city where we are placed, knowing that our own well-being is tied to its success,” said Eric Bruntmyer, President of Hardin-Simmons University. “This data highlights the crucial role our Christian education system plays in driving economic development and equipping students with the skills they need to contribute to the workforce. When our community thrives, we all thrive together.”

ICUT institutions, including Hardin-Simmons University, deliver high-quality education to more than 125,000 students annually, playing a transformative role in Texas. According to the report, ICUT member institutions collectively contribute $17.2 billion annually to the state’s economy. This contribution includes direct spending on operations, investments in capital improvement projects, and spending by employees, students, and visitors.

HSU’s economic impact extends beyond direct spending, as alumni’s enhanced earning potential significantly contributes to the regional and state economies. The study attributes three years of income growth to the impact of universities on graduates, recognizing that salaries later in their careers are shaped by both their academic experiences and the skills they acquire beyond the classroom.

The report, commissioned by ICUT and completed by Trellis Strategies, utilized input-output analysis and RIMS II multipliers from the Bureau of Economic Analysis to evaluate the ripple effects of spending throughout local industries and economies.

This analysis underscores the growing influence of Hardin-Simmons University and other ICUT members in advancing both the educational and economic landscape of Texas.

For more information about Hardin-Simmons University and its impact on the state’s economy, visit hsutx.edu.