A study completed by Econsult Solutions Inc. at the beginning of February revealed that Clemson University’s annual economic impact is $6.4 billion in South Carolina and $10.6 billion nationwide.
In just its neighboring counties, which include Anderson, Greenville, Oconee and Pickens, the University’s impact is $4.9 billion.
This money includes “operations, capital investment, workforce development, athletics events and student and visitor spending,” according to Clemson News.
These results were revealed at the winter quarterly board of trustees meeting on Feb. 6.
“You are among the state’s largest employers, procurer of goods and services, and initiators of capital projects,” Lee Huang, president of Econsult Solutions Inc., said during the meeting.
For every dollar that South Carolina puts into Clemson University, the state receives $35 back in “economic impact,” Huang added.
The University also has a significant impact on the jobs in South Carolina by supporting 28,000 jobs in upstate South Carolina, as well as 37,000 throughout the entire state, according to the Post and Courier.
Graduates from Clemson University also stay local, with 58% living in South Carolina after they finish school.
“In the labor markets, many of your graduates stay local, (and) their enhanced earning potential is contributing to their local economies,” Huang continued.
Additionally, 97% of Clemson University alumni are either employed or continuing their education within six months of graduating. This is another factor contributing to the University’s economic impact.
Clemson’s current status as an R1 research institution shows a dedication to research, development and business. The University has spent a total of $334 million in “research and development expenditures,” according to Clemson News.
From June 2020 to June 2023, the University saw 79 new patent applications, 218 invention disclosures and 10 startup businesses.
“Clemson is elevating South Carolina to new heights,” Clemson University President Jim Clements said.
