Samford University is essential to the economic and community development of the Birmingham-Hoover metro area, the state and the nation. An attractive and high-yielding investment for its graduates, Samford provides many public and private benefits that, while difficult to quantify, clearly make it a great asset for the state and the metro area.
- Samford University’s economic impact on Alabama is $424.8 million
- Samford supports 2,424 jobs throughout the state
- Samford’s fiscal impact totals $16.1 million statewide in sales and income taxes
- Most of the Samford University impacts are in the Birmingham-Hoover metro area—especially the City of Homewood, where the campus is located and the vast majority of Samford students as well as many Samford employees reside.
- The university’s impacts on the Birmingham-Hoover metro area were $384.1 million, 2,172 jobs, and about $5.2 million in local sales tax.
- Alabama will realize even more gains as the 2016–2017 Samford University graduating class will over their careers pay $258.7 million additional income and sales taxes than they would have without the Samford education.
- Samford University is also an attractive investment for its graduates. From a private investment perspective, the real annual return on investment (ROI) of the Samford education ranges from 7.1 percent to 8.8 percent depending on the degree attained when compared to a high school graduate. Comparing the Samford degree to the prior educational attainment level provides a marginal real annual ROI range of 7.1 percent to 15.7 percent.
- Samford University is truly an asset to the State of Alabama and the Birmingham-Hoover metro area. In addition to the above-mentioned impacts, Samford provides many other public and private benefits some of which are difficult to fully quantify.
Information presented here is a part of an independent study conducted by the Center for Business and Economic Research at the University of Alabama. Data represents the impact for 2016–17, the most recent year for which complete data was available.