CAPE GIRARDEAU, Mo. (KFVS) – A recent economic impact study found Southeast Missouri State University makes an extensive contribution to Missouri’s economy.
According to the university, the report was presented to the SEMO Board of Governors by the international labor market analytics firm, Lightcast. It shows SEMO contributed $1.4 billion to the state’s economy in Fiscal Year 2023-24–equivalent to supporting 14,725 jobs across the state.
“This study confirms what many in our community already know: SEMO is not just a place of learning; it’s a driver of economic vitality,” said SEMO President Dr. Carlos Vargas. “From our campuses in Cape Girardeau, Kennett and Sikeston, our work fuels opportunity, innovation and growth for the entire state of Missouri.”
Here is a breakdown of how SEMO drives income across the state, according to the analysis:
$90.2 million from operations spending by the university$8.7 million from out-of-state visitor spending when attending university events$36.1 million from SEMO student spending$1.3 billion from alumni earnings and business productivity statewide
The study also offers a detailed investment analysis, showing the return students and taxpayers receive over time for their investment in the university.
For example, students see an average of $6.50 in higher lifetime earnings for every $1 invested in their SEMO education, while taxpayers receive $2.50 in value for every $1 of public money invested in SEMO. Society at large has a return of $11.70 for every $1 of public money invested in the university, seeing benefits of $2.4 billion through higher earnings, improved health outcomes, reduced crime and decreased dependence on public assistance.
SEMO said it conducted a similar study in 2020 which found the university contributed nearly a billion dollars to the state’s economy.
For more information, visit semo.edu/economic.
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