ASHEVILLE – A recent study demonstrates how a single campus in the University of North Carolina System helps drive the local economy.
The study found that UNC Asheville raised the economic output in the Asheville area by $450 million in 2017 – a $100 million increase from a similar study five years ago. For every state dollar appropriated to the school, SYNEVA Economics LLC calculated, local economic output increases by $11.30.
The study found that UNC Asheville creates:
- 3,911 local jobs;
- $278 million in campus operations;
- $164.6 million in local income;
- A wage premium that totals $96.1 million for UNC Asheville graduates;
- Student spending of $44.3 million; and
- Through 2021, plans for $79 million in spending on capital projects.1
“It is clear that UNC Asheville is an engine of economic growth within the region,” said Tom Tveidt, an economist at SYNEVA Economics.
“While it is impossible to put a value on the cultural impact of the institution, the students and wide scope of events held on campus reinforce the critical role the university plays in the creative economy. UNC Asheville’s regional impact is multifaceted, vibrant, sustainable, and diverse, further solidifying its status as the academic, athletic, cultural, economic, and social hub of the region.”2