Morehouse College graduates walk to Morehouse’s 132nd commencement ceremony, Sunday, May 15, 2016, in Atlanta. BRANDEN CAMP/SPECIAL Branden Camp
Photo: Branden Camp
Photo: Branden Camp

Five things to know about UGA report on economic impact of black colleges

The United Negro College Fund, with research by the University of Georgia’s Selig Center for Economic Growth, released a report Tuesday on the economic impact of the nation’s Historically Black Colleges & Universities.

The report was based on the country’s 101 accredited HBCUs. Nine of those institutions are in Georgia.

Here are five interesting pieces of data from the report:

  • HBCUs generate an estimated $14.8 billion of economic impact annually, which the report said would rank them among the top 200 corporations in the Fortune  500 list.
  • The institutions create 134,090 jobs for their local and regional economies, which the report said is equivalent to the number of jobs by the data company Oracle.
  • More than one-half of those jobs, about 76,000 of them, are off-campus.
  • a HBCU graduate earns about 56 percent more than someone without college credentials.
  • For each job created on an HBCU campus, another 1.3 public- and private-sector jobs are created off campus because of HBCU-related spending.

In other Education news:

The founder of the STEP Foundation told the students he hopes it will provide a great opportunity before they head to college.

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