A study estimates that public universities in the Charleston area bring a $4.4 billion economic impact during, supporting 41,000 jobs.
The study covered fiscal year 2010-2011 and was released by the Charleston Regional Development Alliance in partnership with the College of Charleston, Medical University of South Carolina, The Citadel, Charleston Southern University and Trident Technical College.
The largest contributor to the dollar pool is MUSC, with an estimated impact of $3.4 billion, followed by the College of Charleston at $542 million.
The report's summary is supportive of the role of the institutions, outlying four areas:
Historic Preservation – much of the historic architecture in the urban core is due to the presence of the campuses and historic buildings of the four schools, dating back to 1770 in the case of the College of Charleston
Hospitality & Tourism – many students need to work to pay tuition, and the tourism sector is a naturalfit. Special programs such as Trident Tech’s Culinary Institute equip these students with special skills and training. The College of Charleston was instrumental in inaugurating the internationally-known Spoleto Festival USA in 1977 and remains an essential Festival partner
Research & Business Growth – university research activities, such as those at MUSC, include important discoveries that save & improve lives, and often result in patents and business start-ups
Community Service – students, faculty and staff of the institutions, including The Citadel, provide thousands of hours of community service each year, enhancing health, literacy, education, culture and overall quality of life for the region