LSU Athletics has $500 million impact on Louisiana economy, study says
LSU Athletics supported nearly $500 million of economic output in Louisiana – including nearly $200 million in earnings and more than 6,000 jobs – in fiscal year 2021-22, according to research published by the University on Monday, highlighting a vital component of the department’s transformative impact on the state.
“The Economic Impact of LSU on the Louisiana Economy,” a study published by LSU’s Economics & Policy Research Group, calculates LSU Athletics’ economic impact on the state of Louisiana at $497.5 million in total output. This figure includes $259.4 million in direct effect and $238.1 million in indirect/induced effect across the state.
In addition to this critical contribution to the state economy, LSU Athletics remains one of the few self-sufficient athletics departments in the country, receiving neither state funding nor student fees.
Overall, the University supported $6.1 billion in Louisiana economic output in FY 21-22, including over $2.4 billion in statewide earnings and an estimated 45,700 direct and indirect annualized jobs in fiscal year 2021-2022.
“Nothing unites, inspires, and elevates the state of Louisiana like LSU,” said Director of Athletics Scott Woodward. “We are proud to know our work within athletics makes such a positive impact on Louisiana, and we take seriously our responsibility, as one part of a larger institution, to advance the vision, values, and mission of this great University. ”
According to the report, LSU Athletics directly supported 600 jobs in the state, generating $82.3 million in earnings and $259.4 million in total output in FY 21-22. The additional jobs created around LSU’s major sporting events had an indirect effect of $117.3 million in earnings across 5,574 jobs, generating $238.1 million in indirect/induced economic output in Louisiana. The report also notes that data from 2021-22 fiscal year does not include “the major increase in Name, Image, and Likeness compensation for many college athletes.”
LSU Athletics’ impact remains a vital component of the University’s $6.1 billion total effect on the state, which equals $690 of output per Louisianian and $13.85 for every dollar of Louisiana state funding provided to LSU. LSU’s Flagship Campus in Baton Rouge alone supports an estimated economic output of more than $2.7 billion, including more than 24,000 jobs and $970 million in earnings.
“LSU’s campuses contribute a tremendous amount to the state, and the Scholarship First Agenda is a targeted path toward increasing our impact,” said William F. Tate IV, LSU President. “More difficult to measure but of vital importance are the tremendous cultural assets our faculty and students deliver through the arts, literature, music, and humanities. Those activities enrich lives and deepen community engagement – just another example of how LSU enhances Louisiana’s future.”
“Our physical structures sometimes are fleeting, but our pursuit of knowledge and the truth is lasting and that impact is what makes LSU so special.”@WFTate4 visited the original site of LSU to share the system’s economic impact: https://t.co/TgzZBWLuTQ#ScholarshipFirst pic.twitter.com/q4zdCLra6t
— LSU (@LSU) March 13, 2023