New Mexico State University (NMSU) has released the results of a study conducted by its Arrowhead Center and the Center for Border Economic Development (C-BED), which indicate a significant impact on the state's economy, amounting to billions of dollars. The study, titled "Economic Impact and Contribution of New Mexico State University, 2022," underscores the vital role that research expenditures play in bolstering the university's economic influence.
According to NMSU's fiscal year 2022 report, the university had a substantial economic impact, generating 3,671 direct jobs, 10,634 total jobs, $1.7 billion in economic output, $962 million in value-added production, and $587 million in labor income. Moreover, NMSU made a noteworthy economic contribution by supporting 11,463 direct jobs, 19,634 total jobs, $2.6 billion in economic output, $1.6 billion in value-added production, and $905 million in labor income. The university also awarded 4,777 degrees with an estimated total value of $1.2 billion in discounted future earnings.
Tony Marin, NMSU assistant vice president for student affairs said: "New Mexico State University and our graduates make a significant economic impact on our state’s economy and overall well-being." Marin added: "Through our mission as a land-grant university, we are determined to continue to facilitate opportunities for all students regardless of economic or class-based circumstances. This is demonstrated by the social mobility recognitions that the university has received over the past decade as well as the high number of first-generation college students who enroll and graduate from New Mexico State."
The C-BED at NMSU works hand-in-hand with Arrowhead Center to foster business expansion and economic development along the U.S.-Mexico border. According to information provided by NMSU on its C-BED webpage, it cooperates closely with a range of stakeholders, including businesses, governments, and NGOs. The center's role is to identify barriers to economic development, propose solutions, and conduct studies.
