Morgan State Drove $1.5B To Maryland In 2024 And Backed Over 8,000 Jobs, Proving The Power Of HBCUs
HBCUs for the win!
According to an updated economic report released in November 2024, Morgan State University contributes $1.5 billion annually to Maryland’s economy, supports approximately 8,200 jobs directly and indirectly, and generates an estimated $71 million in state tax revenues.
Additionally, Morgan State University, located in Baltimore, MD, contributes $891 million specifically to Baltimore City’s economy and $1.4 billion to the Baltimore metro area, a news release notes.
Morgan State University’s economic impact has been on the rise since 2018, scaling from an estimated $1 billion. Based on the press release, the increase is also a result of several key strategic moves over the “past 15 years,” which includes $1.2 billion in capital investments.
Some updates include a $171-million Health and Human Services Center unveiled in October 2024, supporting students entering fields such as nursing, physical therapy, nutritional science, and social work throughout the nation and internationally, information on the university’s website confirms.
“As Maryland’s Preeminent Public Urban Research University, Morgan is a catalyst for statewide prosperity. We demonstrate every day that every dollar invested in us returns impressive dividends to the State of Maryland. From our pioneering research projects to our massive role in local community and economic development, our impact is impactful, transformational and intentional,” said David K. Wilson, president of Morgan State University, according to a press release. “The bottom line is that Morgan is a jewel in the state’s higher education crown.”
“Every year we give back six times the total budget coming from the state,” Wayne Swann, an official in the research and economic development department, explained to The Daily Record.
Furthermore, the economic report revealed that Morgan State University students and their visitors contribute $161 million to Maryland’s economy annually, with $150 million of that being student spending. It also found that Morgan alumni residing in Maryland earn approximately $700 million more each year as a result of the institution.
