The University of Alabama had substantial impact on the state of Alabama for the 2019-2020 academic year, contributing the following fiscal impacts:
STATEWIDE ECONOMIC IMPACT
The roughly $2.8 billion impact means that UA had a $15.19 impact per dollar of the $182.8 million state appropriation UA received for the year. From a public investment perspective, the state will realize an 11.9% annual rate of return on investment (ROI) for the appropriation because over their careers the UA 2019-2020 graduating class will pay a little more than $1.0 billion additional state income and sales taxes than they would have without their UA education. An increase of $433.3 million in local sales taxes will accompany these additional state taxes.
From a private investment perspective, the UA education is worthwhile and prudent as it provides real annual ROIs that range from 9.9% to 10.6% for the 2019-2020 graduating class over high school completion depending on degree level; corresponding marginal ROIs range from 14.6% to 17.0%.
Averaging $26.6 million per game, total statewide impact of the seven home football games played in the Fall Semester of 2019 was $185.9 million.
Attracting the best and brightest in-state and out-of-state students beneficially exposes more future leaders to Alabama opportunities and potential for development. Out-of-state students spend more in the state while attending UA than in-state students do. Many out-of-state students also stay, work, and spend in the state after graduation.
UA has achieved R1: Doctoral Universities – Very High Research Activity status in the Carnegie Classification of Institutions of Higher Education. For FY 2021, total sponsored awards to UA were up 1.6% to $171.0 million, and total sponsored research awards were up 4% to $101.6 million. In FY 2021, the total proposal submission count increased by 11.5% from 1,087 to 1,212, and the total proposal submission dollar amount increased by 36.9% from $449.6 million to $615.6 million.
UA was awarded $360 million, the largest external award in the University’s history, from the National Oceanic and Atmospheric Administration to lead a national effort of 28 institutions in water research.
The Alabama Transportation Institute led UA’s effort to execute a major public/private partnership between UA, Alabama Power Company, and Mercedes-Benz U.S. International to establish the Alabama Mobility and Power (AMP) Center. The AMP Center was announced by Governor Kay Ivey on July 23, 2021, with a $16.5 million investment by the state to complete the Smart Communities and Innovation Building on UA’s campus.
UA is receiving about $9 million from the U.S. Department of Defense as part of a four-year, $11 million research project to further develop a novel hydrogen fuel that could be used to support long-range, precision-fire missiles in protecting against potential threats to the United States.
UA’s Business Outreach Centers conducted 233 educational workshops with 5,229 attendees representing existing businesses and entrepreneurs.
Over the last 5 years, the Alabama International Trade Center at UA provided international trade assistance to over 1,300 Alabama companies in 58 counties, assisting clients with $36.5 million in export sales.
Over the last 5 years, the Alabama Small Business Development Center has assisted in launching 1,115 new businesses and secured over $520 million in capital for small business in the state.
In FY 2021, the Alabama Productivity Center completed 112 projects with 26 Alabama organizations to produce $22.4 million in positive impacts. Impact dollars include increased and retained sales, cost savings, workforce practice investments, and creation/retention of jobs.
Forbes listed UA on its list of America’s Best Employers for New Grads.
UA was named the Alabama Governor’s Committee on Employment of People with Disabilities Large Business Employer of the Year.