UHV expected to add $490.8 million in income to Coastal Bend economy in FY 2029
A recently released study of the economic impact of the University of Houston-Victoria estimates that the university will add $490.8 million in income to the region’s economy in 2028-2029, an increase of 53 percent compared with 2018-2019.
“It is an exciting time for UHV as we continue to grow and make a difference in the economies of the communities that we serve in the Coastal Bend,” UHV President Bob Glenn said. “I am grateful to know that UHV is part of a region that values higher education. We are committed to helping the region prosper.”
In 2019, the university contracted Emsi, a nationally recognized data analysis company, to conduct a comprehensive evaluation of the university’s economic impact on the Coastal Bend, including Bexar, Bee, Brazoria, Calhoun, Colorado, DeWitt, Fort Bend, Goliad, Gonzales, Harris, Jackson, Karnes, Lavaca, Matagorda, Refugio, Victoria, Wharton and Wilson counties.
The study not only confirmed the role UHV now plays in the economic activity of the region, it also provided a look into the economic impact the university is expected to have in 2028-2029 when 6,000 full-time equivalent students are anticipated to attend the university. During the 2018-2019 analysis year, the number of full-time equivalent UHV students was 3,259. A full-time equivalent student is taking either 30 credits a year as an undergraduate student or 24 credits a year as a graduate student.
UHV’s total economic impact of $320.5 million in added income during the 2018-2019 analysis year is expected to increase 53 percent in 2028-2029, when it is anticipated to reach $490.8 million. The $320.5 million impact is the equivalent of supporting 3,526 regional jobs, while the expected 2028-2029 income is equal to supporting 5,365 jobs.
The study also looked at UHV’s 2018-2019 economic impact and job equivalency in several specific areas, including university, visitor and student spending and the effect of the university’s alumni. The study then projected the impact of each of those areas in 10 years.
Some key takeaways from the study:
- Alumni Impact – Since UHV was founded in 1973, 20,748 people have graduated from the university, and many of them are now employed in the region. In 2018-2019, UHV alumni generated $247.5 million in added regional income, the equivalent of 2,493 jobs. That impact is expected to grow by 57 percent in 2028-2029, resulting in $387.8 million in added income, equal to 3,907 regional jobs. This impact will continue to grow as UHV places more alumni into the regional workforce.
- University Spending Impact – UHV’s spending on operations, research and construction added $63.6 million in income, the equivalent of supporting 841 jobs, to the region in 2018-2019. For example, the university’s $29.5 million University Commons student center and library opened in August 2019. In order to serve 6,000 students in fiscal year 2029, UHV will need to increase its operating expenditures, including additional payroll for new employees and spending on operations and maintenance. The university’s spending impact in 2028-2029 is expected to increase by 34 percent, amounting to $85.3 million in income and the equivalent of 1,097 jobs. The number of part-time and full-time UHV employees is expected to increase from 509 to 704 during the 10-year period.
- Student Spending Impact – About 18 percent of students attending UHV in 2018-2019 originated from outside the region. UHV’s students generated $9.4 million in added income for the regional economy in 2018-2019, which supported 190 jobs in the Coastal Bend. In 2028-2029, the impact from student spending is expected to increase by 88 percent, amounting to $17.6 million in income and 358 jobs.
- Visitor Spending Impact – Visitors from outside the region attending UHV commencement ceremonies, sporting events and other activities generated $84,600 in added income to the area economy in 2018-2019, a number expected to increase 71 percent in 2028-2029 when that amount is projected to be $144,700.
Additionally, the study found that students who earn a bachelor’s degree from UHV can expect to earn annual wages of $64,600 at their career midpoint in the Coastal Bend, which is about $29,500 more than someone with a high school diploma. Students who earn a master’s degree from UHV can expect to earn annual wages of $81,900 at their career midpoint.
“This study shows the importance a higher education can make in the future of our students and to the regional economy,” said Chance Glenn, UHV provost and vice president for academic affairs.
Wayne Beran, UHV vice president for administration and finance, said the study is an important tool for UHV’s future.
“This economic study shows that UHV is and will continue to be an important part of the region’s economic and educational development for years to come,” Beran said. “UHV is on an exciting path with a student population and campus that continues to grow. I look forward to the future of UHV and Victoria.”
For a full description of the data and approach used in the study, and to view the full report, go to www.uhv.edu/study.
The University of Houston-Victoria, located in the heart of the Coastal Bend region since 1973 in Victoria, Texas, offers courses leading to more than 80 academic programs in the schools of Arts & Sciences; Business Administration; and Education, Health Professions & Human Development. UHV provides face-to-face classes at its Victoria campus, as well as an instructional site in Katy, Texas, and online classes that students can take from anywhere. UHV supports the American Association of State Colleges and Universities Opportunities for All initiative to increase awareness about state colleges and universities and the important role they have in providing a high-quality and accessible education to an increasingly diverse student population, as well as contributing to regional and state economic development.