5 minute read
5 Minutes with the President
Making an Impact
A brief conversation on recent events with MTSU President Sidney A. McPhe
A new report found that Middle Tennessee State University alumni, including alumni-owned businesses, generated more t han $15.2 billion in business revenue in the state over the c ourse of a single year. Tell us more about this report.
The 2024 MTSU Alumni Impact Report by the Business and Economic Research Center (BERC) in our Jennings A. Jones College of Business detailed the positive financial impact made by the University’s graduates throughout Tennessee. It also reflected how MTSU particularly bolsters the economies of its home and surrounding counties. Rutherford County alone recorded more than $4.1 billion in business revenue, the highest among all counties.
MTSU released the full report to local and state officials based on numbers from 2022—the base statistical year of the study—at an event held last fall at the Rutherford County Chamber of Commerce in Murfreesboro. Also sharing remarks at the chamber event were MTSU Board of Trustees Chair Stephen Smith; report author and BERC Director Murat Arik; Jones College of Business Dean Joyce Heames; state Rep. Charlie Baum, an MTSU Economics professor; Chamber
President Paul Latture; and MTSU alumnus Ronald Roberts, managing partner at global marketing agency Finn Partners.
These findings underscore the tremendous and positive multibillion-dollar economic impact made by our alumni in Tennessee. We are particularly proud that most of our graduates remain in our state, adding to the workforce, paying taxes, starting businesses, and contributing to o ur communities.
The state invested approximately $150 million into MTSU this past fiscal year compared to the $15 billion in generated revenue, based on the report. Talk a little more about that incredible rate of return.
MTSU alumni in Nashville and Davidson County, including alumni-owned businesses, recorded the second-highest total in business revenue among Tennessee counties (after Rutherford), generating $2.9 billion.
The Nashville, Knoxville, and Chattanooga metropolitan statistical areas had totals of $11.3 billion, $509 million, and $504 million, respectively, in total business revenue impact by MTSU alumni and their businesses.
In 2022, Rutherford County had the largest number of MTSU alumni residents at 32,500, followed by Davidson with more than 19,300. Williamson boasts 10,000 alumni, with Wilson and Maury next at 6,000 and 4,400.
We are very proud of the significant number of our College of Business alumni,” said MTSU Jones College of Business Dean Joyce Hames, “contributing to the prosperity of middle Tennessee.
Bedford County had the largest proportion of resident alumni as a percentage of the degree-holding population at 45%, followed by Rutherford, Cannon, Coffee, and Warren counties with approximately 42%, 37.5%, 35%, and 34%, respectively.
More than 114,900 MTSU alumni lived and worked in Tennessee in 2022. Georgia (4,000-plus), Florida (3,600-plus), Texas (nearly 2,500), and Alabama (2,450-plus) have the largest MTSU alumni populations after Tennessee.
As the report stated, MTSU has consistently been an influential part of communities and economies across Tennessee and the region!
“MTSU alumni’s talents, businesses, and leadership are changing the dynamics in the area,” said Business and Economic Research Center Director Murat Arik, “and demonstrating MTSU’s far-reaching impact.
At the center of all of this impact is the quality of an MTSU education and the large number of MTSU graduates who make up the local workforce. Discuss that impact on the communities in which alumni live and work.
We are situated in a dynamic and growing region. The city of Murfreesboro and the middle Tennessee region are experiencing rapid growth and development. This presents us with unique opportunities to forge partnerships, drive economic development, and contribute to the well-being of our community.
MTSU is the No. 1 producer of college graduates for the greater Nashville economy. With a total enrollment of approximately 20,000 students, we are the largest comprehensive university in the Nashville market and t he largest locally governed higher-education institution in Tennessee.We are the premier public university serving greater Nashville.
MTSU’s academic offerings have grown in quantity and quality to better serve the needs of the middle Tennessee region and support the state’s economic growth and development
MTSU prepares career-ready graduates—more graduates than any other local university (approximately 5,000 each year).
More than 60% of its alumni live within an hour’s drive of Murfreesboro.
One in every six college-educated individuals in the greater Nashville area holds an MTSU degree.
As a result, we have a strong network of alumni who are deeply invested not just in our region’s success but in MTSU’s success as well. Their support consistently provides us with the financial resources and strategic connections needed to pursue ambitious initiatives and expand our impact.
Thank you, Mr. President.MTSU prepares career-ready graduates—more graduates than any other local university (approximately 5,000 each year).
