A new study shows Mississippi State University continues to generate a high return on investment for stakeholders with an estimated $3.9 billion annual economic impact.
University leaders announced the results of the latest economic impact study during a March 19 press conference at MSU. The study, completed by MSU’s National Strategic Planning & Analysis Research Center, or NSPARC, shows that for every $1 invested by taxpayers into MSU, $25 in income is generated in Mississippi. With MSU’s activity sustaining more than 80,000 jobs statewide, MSU supports one out of every 15 jobs in the state.
The new analysis, based on 2024 data, updates a report conducted by Lightcast (formerly EMSI) using 2019 data. The previous analysis estimated MSU’s economic impact to be $1.8 billion annually.
To complete the study, NSPARC analyzed the impact of MSU’s employment and operations spending, student and visitor spending, research operations, alumni employment, as well as engagement activities in key sectors such as agriculture and forestry.
“This report quantifies what we have long known—Mississippi State University is a core economic driver across the state of Mississippi,” said MSU President, Mark E. Keenum. “Our world-class faculty and staff work hard every day to move Mississippi forward and educate the students and future leaders we need in our state and nation. I am proud that as our student enrollment grows and research portfolio expands, the many economic and social benefits of our university’s teaching, research and outreach efforts continue to grow as well.”
Among the drivers of MSU’s economic impact is the university’s robust research portfolio. At $320 million in FY24 research expenditures, MSU accounts for more than half of the state’s total R&D spending among higher education institutions. The study found that MSU’s $320 million in research spending translates to $320 million in income for Mississippians and supports 5,630 jobs statewide.
MSU’s research ranges from basic science that forms the basis of future breakthroughs, applied science that directly solves key challenges for stakeholders, as well as workforce training and industry support that positions Mississippi for an innovation-based economy.
“As the state’s leading research university, we make a point to align our capabilities with key economic sectors in Mississippi,” said MSU Vice President for Research and Economic Development, Julie Jordan. “This allows our research to remain relevant to our stakeholders and industry partners and helps us prepare graduates to fill high-impact jobs in Mississippi and beyond. Our research activity also produces new start-up companies and technologies that support economic growth.”
The new study also quantified the impact of MSU’s Division of Agriculture, Forestry and Veterinary Medicine, which includes MSU Extension, the Mississippi Agricultural and Forestry Experiment Station, Forest and Wildlife Research Center, and the College of Veterinary Medicine. Combined, the division creates $1.7 billion in impact through research, engagement and direct support to Mississippi’s agriculture and business sectors.