Historically Black Colleges and Universities

In 2006, the combined initial spending of all 101 Historically Black Colleges and Universities (HBCUs) in their host communities total $6.6 billion. Public HBCUs accounted for 62 percent of this total amount while not-for-profit HBCUs accounted for the remaining 38 percent.

The total economic impact of the nation’s HBCUs was $10.2 billion in 2001. The input-output model estimated that 65 percent of this total was initial spending by the institutions and students, while the remaining 35 percent was the induced/respending impact, or multiplier effect.

The total employment impact of the 101 HBCU institutions included 180,142 total full and part-time jobs in 2001. To put that into perspective, the rolled-up employment impact of the nation’s HBCUs exceeds the 177,000 jobs at the Bank of America in 2006, which is the nation’s 23rd largest private employer. 4

4 NATIONAL CENTER FOR EDUCATION STATISTICS. “ECONOMIC IMPACT OF THE NATION’S HISTORICALLY BLACK COLLEGES AND UNIVERSITIES.” OCTOBER 2006.

Take Action Now

The “ask” of this site is a simple one: establish a new $50 billion education investment fund in teaching and research facilities for colleges and universities. The result would be the creation of more than 1 million immediate jobs that will support the education and betterment of hundreds of thousands of Americans, while also stimulating our economy for years to come. Take Action Now