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The Economic Impact of McNeese

The Economic Impact of McNeese

Economic impact illustration for McNeeseThe importance of McNeese State University to Southwest Louisiana and the state as a whole is more than just providing highly educated graduates for workforce needs.

According to a recently completed economic impact study, in 2014 McNeese had a $371.6 million impact on the regional economy and a $407.8 million impact statewide.

The report also shows that while McNeese received $19.2 million in state appropriations in 2014, it generated $22.7 million in tax return for the state.

“McNeese is a tax generator for the state,” said Dr. Philip Williams, McNeese president. “Our students and employees pay sales tax on purchases, our employees pay income tax and our construction projects generate tax revenue.”

Williams said McNeese is also one of the largest employers in Southwest Louisiana and many retirees stay in the area and continue to generate tax revenue.

Dr. Mostafa Malki gathered the data, analyzed the results and prepared the report.

Malki, an assistant professor of business economics at the University of North Texas at Dallas, said that “universities support all aspects of economic growth for the community and the state as a whole. Universities touch all areas of a community.”

Malki is an internationally recognized expert in conducting economic impact studies for private corporations, municipalities and government entities.