Study Shows Benedictine College Brings Over $32 Million to Atchison

Study Shows Benedictine College Brings Over $32 Million to Atchison

Thursday, September 04, 2014

According to a new study, Benedictine College generates $32.9 million each year for the Atchison economy. The economic impact of the college is sufficient to support 964 jobs in Atchison every year and generate $36.3 million in social benefits to the state through increased business output and improvements in health and public safety that accrue from its graduates.
 

The new study, “Demonstrating the Economic Value of the Kansas Independent Colleges and Universities,” was conducted by Economic Modeling Specialists International (EMSI) for the Kansas Independent College Association and specifically analyzes the contributions to the Kansas economy that would not otherwise occur if the colleges did not exist.  The report’s findings show that Benedictine College’s impact on the Atchison economy is nearly equivalent to hosting the Big XII Tournament twice each year.
 

“We have always known that Benedictine College was important to the Atchison economy,” said Stephen D. Minnis, president of Benedictine College. “This study demonstrates just how truly powerful the contribution is that our students, faculty, and the institution as a whole make.”
 

The study was conducted using the 2012-2013 fiscal year, but since then Benedictine College has been very busy, adding three new residence halls, a new dining hall, a new Student Success Center, and new baseball and softball stadiums, more than $18 million in capital projects alone. As much as 60% of this construction business is going to local firms and the financing mechanisms, predominantly municipal bonds, have helped boost the city and county credit ratings. Economic impact outside of Atchison County contributes an additional $35 million to the regional economy, boosting Benedictine’s regional economic impact close to $70 million.

Other highlights of the study include:

  • Benedictine College students spend money with local businesses for groceries, rental accommodations, transportation, entertainment and more. These expenditures by students added $817,500 to the Atchison economy during the analysis year.
  • Thousands of visitors come to Atchison each year for school tours, college events or athletic competition. Their off-campus spending at hotels, restaurants, gas stations and other businesses added $438,700 to the Atchison economy during the analysis year.
  • Benedictine College gives nearly $20 million in privately-funded student aid to college students, making it one of the largest charitable organizations in the area.

Founded in 1858, Benedictine College is a Catholic, Benedictine, residential, liberal arts college located on the bluffs above the Missouri River in Atchison, Kansas.  The school is proud to have been named one of America’s Best Colleges by U.S. News & World Report as well as one of the top Catholic colleges in the nation by First Things magazine and the Newman Guide.  It prides itself on outstanding academics, extraordinary faith life, strong athletic programs, and an exceptional sense of community and belonging.  It has a mission to educate men and women within a community of faith and scholarship.

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