ECSU reveals economic impact study: $100 million annually infused into northeastern North Carolina
October 04, 2005 Elizabeth City State University held a press conference at 11 a.m., October 4, 2005 at the K. E. White Graduate Center to reveal new findings from an economic impact study conducted by the law firm of Holt, York, McDarris & High, now known as Smith Moore, LLP, in Raleigh, North Carolina. ECSU Chancellor Mickey L. Burnim and Attorney Clyde Holt III of Smith Moore, LLP introduced the study and presented key figures from the ECSU Board of Trustees, the ECSU Foundation, area government agencies and surrounding organizations involved in economic development and commerce. Chancellor Burnim and Attorney Holt elaborated on the study that revealed the major economic impact ECSU has on northeastern North Carolina. Below are some of the points the economic impact study addresses: ECSU directly spends more than $45 million annually through its operating budget in the Albemarle area, a rate that exceeds any other single business or institution. In addition to the $45 million, additional funds are invested in capital projects. Elizabeth City State University’s direct and indirect or "domino effect" impact on the region’s economy is estimated at more than $100 million. ECSU students, alumni, visitors and employees spend additional money in regional cities and towns. Those funds contribute to local and state economies. ECSU is one of the top three employers. In addition, the university creates hundreds of jobs through contracts and partnerships. As the only public institution in the region offering baccalaureate and master’s degrees, and a doctor of pharmacy degree program in collaboration with UNC-Chapel Hill, ECSU is a major source of research and development. Area government, non-profit and commercial businesses and individuals benefit from that research. During the press conference, Chancellor Burnim and other officials commented on the ways the study will be used to strengthen current relationships and establish new partnerships to enhance economic development in the 21 surrounding counties. For more information, please contact ECSU Institutional Advancement at 252-335-3225.