East Texas Baptist University has a significant impact on the regional economy | news
In fulfillment of its Christ-centered mission, East Texas Baptist University announced that an Economic Impact Report has concluded that the university has had 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 found that East Texas Baptist University generated $ 46,232,131 in direct spending and $ 16,953,322 in induced spending.
Direct expenses include money spent on employee salaries and benefits, capital projects, university purchases, and student and visitor expenses in the community. Induced expenditure is defined as employment and expenditure provided by local industry as a result of East Texas Baptist University direct expenditure.
“The ETBU shares a vision for economic development through collaborative partnerships with local and regional businesses, industry and education,” said Dr. J. Blair Blackburn, President of East Texas Baptists Create job opportunities, develop our workforce, and retain talented people in our city and county. We strive to ensure that our faith, built into our work, enhances the quality of life in East Texas by uniting hearts and minds for the benefit of our citizens and our community. “
ETBU is one of Harrison County’s largest employers, and a 33 percent increase in student numbers over the past six years has spurred the construction of new facilities on campus and revitalization of downtown Marshall.
The renovation of existing study living spaces and the construction of new educational institutions lead to an injection of money into the local economy.
ETBU is currently investing over $ 500,000 in the restoration of the Grand Hall on the 8th floor of the Marshall Grand (formerly the roof garden of the Hotel Marshall), a large banquet hall for university and community events.
The upcoming construction of ETBU’s Great Commission Center and home to the Fred Hale School of Business will catalyze the local economy with an investment of over $ 8,000,000 in the city of Marshall and Harrison Counties.
Builders and building materials / service companies from across the city and region will partner with ETBU to create this great multi-purpose facility for academic learning, business and entrepreneurial leadership training, career development and missions / ministry.
East Texas Baptist University is proud to be a Marshall based company and wants to be a good neighbor through service and care to the community’s citizens. ETBU shows concern for the community by having teachers, staff, and students participate in community life, including serving in local schools and churches.
“ETBU students, faculty, and staff make a variety of impacts in the community by serving with fellow citizens in local schools, communities, and other nonprofit organizations,” added Dr. Blackburn added. “The university also has an impact through institutional programs like our Neighborhood Renewal Initiative and through the students who work through the Great Commission Center. Our service to the community is part of our identity, but ETBU’s remarkable economic contribution has a significant impact on the region. “
The economic impact study was commissioned by the Independent Colleges and Universities of Texas (ICUT) and conducted by Economics Professor Mark Paul Gius, Ph.D. of Quinnipiac University.