CARBONDALE (SIU NEWS) – The economic impact of Southern Illinois University Carbondale can be summed up in two numbers:
- Almost $2.7 billion — statewide impact from the university’s operations, student expenditures, visitor spending and alumni incomes.
- 18,601 — jobs in Illinois supported by SIU Carbondale’s economic activity.
SIU Carbondale Chancellor Austin Lane, SIU System President Dan Mahony and others Monday discussed a new analysis that quantifies the university’s benefits to Illinois’ economy in the past fiscal year, which ended June 30, as well as the return on investment for students and for the State of Illinois. A research team, led by SIU Carbondale professors Jebaraj Asirvatham and Scott Gilbert, examined spending by the university, its students and visitors and the ripple effects, including the supply chain, new incomes and job creation.
“At SIU Carbondale, we have always known we serve as an economic engine,” Lane said. “We prepare students to pursue a lifetime of careers, conduct research that solves problems and leads to innovation, and serve as a major employer in our region, with about 5,000 faculty, staff and administrators.”
Researchers found that SIU Carbondale students on average get almost a triple return on investment — $2.74 for every $1 they spend in tuition and fees — while every state tax dollar yields a 15% return.
“The State of Illinois and our students are seeing a significant return on the investment in benefits for the regional economy and the long-term impact on Salukis’ income – not to mention the great discoveries and wonderful creative works that influence and change lives within and outside Illinois,” Lane said.
SIU Carbondale is part of the SIU System, which employs more than 7,000 faculty, staff and administrators who serve about 23,500 students through campuses in Carbondale, Edwardsville and Springfield.
“The SIU System’s economic impact in fiscal year 2023 was an astounding $4 billion, and the system’s economic activity helped support 45,075 jobs in Illinois,” Mahony said. “We are proud that SIU’s impact has grown tremendously in our 155-year existence; we know this trend will continue with so many outstanding students, innovative faculty and staff members.”
The SIU Carbondale report is available here.