Mississippi Public Universities have a tremendous impact on the economy of our state. With eight main campuses, 23 Satellite Centers and the University of Mississippi Medical Center, the university system employs 27,746 Mississippians across the state. The salaries earned by these employees are then used to purchase homes, cars and other consumer goods, generating property and sales taxes.
Each year, there are more than 95,000 students in the system. These students pay for housing, food, gasoline, entertainment and other items, which also generate tax revenue for local and state entities. Once these students graduate, they create the workforce that attracts business and industry to our state.
There were 17,102 degrees awarded in 2016. These graduates will earn more and be less likely to be unemployed. In Mississippi, the median household income for a high school graduate is $25,954, while the median household income for a college graduate is $40,952. This increased earning power results in greater tax revenue for the state, while also decreasing the need for social services provided by the state.
There has been a 30.8% increase in the number of STEM graduates in the past five years, putting Mississippi in a great position to attract the kinds of advanced manufacturing plants that provide the kinds of jobs Mississippians want.
Advanced manufacturing also benefits from university partnerships, whether exploring more effective and efficient process applications or conducting research leading to product innovations. University research brought $416.6 million into the state through external funding for 2,456 projects. Breakthroughs in university laboratories happen every day and help Mississippians from every walk of life to lead healthier, safer, more efficient, more productive and more enjoyable lives.