Five things to know about UGA report on economic impact of black colleges

Morehouse College graduates walk to Morehouse’s 132nd commencement ceremony, Sunday, May 15, 2016, in Atlanta. BRANDEN CAMP/SPECIAL

Credit: Branden Camp

Credit: Branden Camp

Morehouse College graduates walk to Morehouse’s 132nd commencement ceremony, Sunday, May 15, 2016, in Atlanta. BRANDEN CAMP/SPECIAL

The United Negro College Fund, with research by the University of Georgia’s Selig Center for Economic Growth, released a report Tuesday on the economic impact of the nation’s Historically Black Colleges & Universities.

The report was based on the country’s 101 accredited HBCUs. Nine of those institutions are in Georgia.

Here are five interesting pieces of data from the report:

  • HBCUs generate an estimated $14.8 billion of economic impact annually, which the report said would rank them among the top 200 corporations in the Fortune  500 list.
  • The institutions create 134,090 jobs for their local and regional economies, which the report said is equivalent to the number of jobs by the data company Oracle.
  • More than one-half of those jobs, about 76,000 of them, are off-campus.
  • a HBCU graduate earns about 56 percent more than someone without college credentials.
  • For each job created on an HBCU campus, another 1.3 public- and private-sector jobs are created off campus because of HBCU-related spending.

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