News Summary
Clemson University has significantly boosted South Carolina’s economy, generating $6.4 billion in impact according to a recent study. The report highlights job creation of around 37,100 statewide and $114.4 million in annual state tax revenue. Clemson’s innovative programs and collaborations with industries contribute to economic growth and enhance workforce development. The university also positively affects the national economy, supporting 54,000 jobs with over $334 million in research expenditures, demonstrating its commitment to advancing various sectors.
South Carolina experienced a significant economic boost from Clemson University, which drives an impressive $6.4 billion in economic impact across the state, according to an independent economic impact study released on February 6, 2025. This report, disclosed during Clemson’s Board of Trustees meeting, outlines the numerous ways in which the university contributes to the local and state economy.
The findings reveal that the university’s economic influence primarily stems from its operations, capital investments, workforce development initiatives, revenue generated from athletics events, and spending by students and visitors. More precisely, every dollar invested by South Carolina into Clemson University returns a staggering $35 in economic output, highlighting the institution’s role as a powerful economic engine.
Clemson’s contribution to the state’s job market is substantial, having resulting in the creation of approximately 37,100 jobs statewide. The university is also a key contributor to state finances, generating around $114.4 million annually in state tax revenue. Furthermore, the economic impact is particularly pronounced in the Upstate region, where Clemson supports $4.9 billion of economic activity and 27,900 jobs.
Clemson University is actively engaged in collaborations with various industries throughout South Carolina. These partnerships focus on leveraging experiential learning and providing industry-supported scholarships to meet mutual economic goals and address state needs through effective educational practices. The university operates multiple innovation campuses and research centers aimed at further advancing its economic mission.
The broader impact of Clemson University extends beyond South Carolina, with an impressive $10.6 billion economic contribution nationwide. This impact is associated with supporting 54,000 jobs across the United States. A critical element of this contribution is the university’s research activity, which has doubled since 2013. In the fiscal year ending June 30, 2024, Clemson reported over $334 million in research and development expenditures, reflecting its commitment to innovative solutions across vital sectors such as automotive, energy, manufacturing, health, education, and agriculture.
The university not only cultivates economic robustness through its current operations but also retains a significant percentage of its graduates within the state. Approximately 58% of Clemson alumni choose to remain in South Carolina after graduation, which contributes to local economies. The employment rate for graduates is notably high, with 97% being either employed or pursuing further education within six months of graduation. They report a median 10-year earning of $72,000, exceeding that of similar institutions.
Since its founding in 1889, Clemson University’s President emphasized a longstanding commitment to enhancing the lives and economic prosperity of South Carolina residents. As the institution continues to develop its research capabilities and foster partnerships throughout the state, it aims to address ongoing economic challenges and contribute positively to regional growth.
Deeper Dive: News & Info About This Topic
- Newswire: DIN Development Corporation Named to 2025 Best Places to Work in South Carolina
- Wikipedia: Clemson University
- The State: South Carolina News
- Google Search: Clemson University Economic Impact
- Greenville Business Magazine: Top Workplaces – The 2025 Winners
- Google Scholar: Clemson University Research Expenditures
- Forbes: Best Employers by State
- Encyclopedia Britannica: Clemson University
- Greenville Online: Forbes Named These SC Companies Among 2024’s Best
- Google News: Clemson University Economic Report
