TAMIU Economic Impact Analysis FY 2021

As indicated in Table 6.1, for FY21 payroll and benefits paid to employees and operation spending of TAMIU generated $155 million in added income to Webb County’s economy: $93 million in direct economic impact and $62 million in indirect and induced economic effects. The $155 million in added income is equivalent to supporting 1,969 jobs in the region and is approximately 2% of the total Gross Regional Product (GRP) of Webb County. TABLE 6.1: TAMIU Operations Spending Impact IMPACT EMPLOYMENT LABOR INCOME VALUE ADDED OUTPUT Direct 1,494 $62,088,063 $62,088,063 $92,945,297 Indirect 181 $5,709,830 $9,173,361 $26,144,600 ,Induced 294 $10,629,080 $18,341,574 $35,906,378 Total IMPACT 1,969 $78,426,973 $89,602,998 $154,996,275 Source: IMPLAN TAMIU creates economic value for Webb County as an employer of its residents and a consumer of goods and services. As referenced in Table 1.1, in FY21, the University employed 1,494 full-time and part-time staff and faculty. OPERATIONS SPENDING IMPACT TAMIU Employees: 570 Full-time, 630 Part-time, and 294 Faculty, FY2021 Webb County on mortgage and rent payments, groceries, dining out, and other household expenses. In addition, the University spent $30.9 million on day-to-day expenses related to facilities, supplies, and professional services; $30.4million in scholarships, and $22.3 million in other expenses. $30.4 million for Scholarships, FY 2021 The total payroll at TAMIU was $62.1 million, primarily spent in 14