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Clemson University Contributes $6.4 Billion to South Carolina Economy

News Summary

An independent study reveals that Clemson University significantly impacts South Carolina’s economy with a contribution of $6.4 billion. This includes various factors such as university operations, student spending, and job support, leading to approximately 37,100 jobs created statewide. The university generates substantial state tax revenue and plays a vital role in workforce development and research, with its graduates largely remaining in the state and enhancing the local labor market.

South Carolina – An independent economic impact study conducted by Econsult Solutions Inc. has found that Clemson University contributes an impressive $6.4 billion to the South Carolina economy. This significant economic influence was presented at the university’s Board of Trustees meeting on February 6, 2025. The number underscores the pivotal role that Clemson plays not only in education but also in the economic landscape of the state.

The study attributes this $6.4 billion impact to various factors, including university operations, capital investments, workforce development, athletics events, and spending by students and visitors. Notably, for every dollar invested by the state of South Carolina in Clemson University, $35 of economic output is generated. This impressive return on investment plays a vital role in sustaining economic growth across the region.

Furthermore, the total economic activity associated with Clemson University supports approximately 37,100 jobs statewide. Through direct and indirect employment opportunities, the university not only serves as an educational institution but also as a crucial driver of the local labor market. Annually, Clemson generates $114.4 million in state tax revenue, adding another layer of economic contribution.

Clemson University’s impact is notably pronounced in the Upstate region, where it contributes $4.9 billion to the local economy and supports around 27,900 jobs. The university actively pursues partnerships with various industries to further enhance the state’s economic development. These collaborative efforts focus on experiential learning and providing scholarships to students, reinforcing Clemson’s commitment to workforce readiness.

Extending beyond state borders, Clemson’s total economic impact reaches $10.6 billion nationwide, supporting approximately 54,000 jobs across the United States. This national influence illustrates Clemson’s role in shaping not just the local economy, but also contributing to broader economic trends.

In terms of research, Clemson has seen a doubling of its research activity since 2013. The university’s research and development expenditures exceeded $334 million for the fiscal year ending June 30, 2024. This growth in research is aligned with the state’s needs, with the university operating multiple innovation campuses and research centers throughout South Carolina. Such initiatives bolster the state’s competitiveness in various sectors through innovation and technology transfer.

Moreover, a substantial majority of Clemson graduates choose to remain in South Carolina after finishing their education. About 58% of alumni stay in the state, contributing to the local workforce. Additionally, a remarkable 97% of graduates are either employed or pursuing further education within six months of graduating, with their median ten-year earnings averaging $72,000. This reflects the university’s effectiveness in preparing students for the job market and enhancing their long-term earning potential.

University leadership has highlighted the importance of economic impact as a key component of Clemson’s strategic vision. The institution’s collaborations with local industries and agencies aim to maximize the economic benefits for the state. By focusing on workforce development and research initiatives, Clemson University continues to play a vital role in fostering economic growth and providing sustainable employment opportunities throughout South Carolina.