Newberry College has an estimated $98.1 million impact on the Midlands economy, according to a study by Lilly Consulting Group.
The study examined the college’s impacts from operation expenses, job creation, and spending by students, employees and visitors in Newberry and neighboring Laurens, Lexington and Richland counties.
The figures also include the capital construction projects currently underway, including the Darby Nursing & Health Science Center, the Founders Field House and the college’s ninth residence hall.
“Newberry College continues to rise as a regional leader in higher education, and our growth translates into not only better outcomes for our students, but for our community and state as well,” said President Maurice Scherrens. “This study shows that Newberry College makes the Midlands a better place to live and work, not only by our close to $100 million fiscal impact, but also by the immeasurable contributions of our students, faculty, staff and alumni in our community and in society.”
Through its operations and capital expenditures, Newberry College supports over 740 jobs, including faculty and staff and numerous campus partners. Students contribute a combined $9.5 million to the local economy. College and Wolves athletic events bring in nearly $1.1 million annually from visitors. On top of benefits for businesses and organizations, the college generates $3.8 million in tax revenue for local and state governments.
“This economic impact survey’s significance extends beyond the numbers,” said David Sayers, the college’s vice president for administrative affairs and CFO. “It makes clear that, both directly and indirectly, Newberry College drives business and improves quality of life.”