Morgan State University continues to prove that its value extends well beyond the classroom. According to a newly released economic impact study conducted by the independent firm Econsult Solutions, Inc. (ESI), Morgan contributes a staggering $1.5 billion annually to the State of Maryland’s economy, cementing its position as one of the region’s most impactful and forward-moving institutions.
More than a number, this valuation tells a story of jobs created, lives transformed and communities empowered through research, education, innovation and strategic capital investment. The University also supports 8,200 jobs across Maryland and contributes nearly $71 million annually in state tax revenues, showcasing Morgan’s role as both a major employer and economic engine.
“As Maryland’s Preeminent Public Urban Research University, Morgan is a catalyst for statewide prosperity. We demonstrate every day that every dollar invested in us returns impressive dividends to the State of Maryland. From our pioneering research projects to our massive role in local community and economic development, our impact is impactful, transformational and intentional,” said David K. Wilson, president of Morgan State University. “The bottom line is that Morgan is a jewel in the state’s higher education crown.”
Since Morgan’s first economic impact study was conducted in 2018, the University’s annual contribution has steadily grown with each subsequent report — from nearly $1.0 billion in 2018 to $1.1 billion in 2021 and now $1.5 billion in 2024, a 51.52 percent overall increase since the inaugural assessment. The upward trajectory correlates with more than $1.2 billion in capital investments over the past 15 years.
Other key learnings from the most recent Economic Impact Report include:
- Morgan students and campus visitors contribute $161 million annually to Maryland’s economy, with $150 million stemming from student spending.
- Morgan alumni living and working in Maryland earn approximately $700 million more each year as a direct result of their Morgan education and credentials.
Statistics show that a university’s economic impact is greatest in the region in which it was founded. According to the ESI report, Morgan’s presence generates $891 million in economic activity in Baltimore City alone, while the Baltimore metro area sees a $1.4-billion impact. The number of jobs created in Baltimore totals 4,880, making Morgan a true anchor institution for the city’s continued growth and revitalization.
Universities serve as growth engines for the cities and states in which they reside, often ranking among the largest employers in their regions. Graduates of these institutions, particularly bachelor’s degree holders, contribute approximately $278,000 more to local economies than do high school graduates over their lifetimes, through increased spending and higher tax contributions. In addition, universities often engage in community service, cultural events and public health initiatives, enhancing the quality of life in their regions.
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In comparison, other universities around the nation contribute significantly to the economies of their home states, such as the University of Washington ($20.9 billion), Arizona State University ($6.1 billion) and the University of Arkansas ($3 billion).
Innovation and industry leadership
Morgan’s economic engine is also powered by its extraordinary innovation capacity. Compared with the U.S. research university average, Morgan dramatically outpaces its peers, with more than 10 times more start-ups formed, patent filings and licensing activity per $10 million in R and D expenditures, as detailed in the University’s FY24 innovation metrics report.
“The results we’re seeing are a true testament to the outstanding work of our researchers and the strength of our innovation ecosystem,” said Willie E. May, Ph.D., vice president for Research and Economic Development. “Morgan is converting knowledge into real-world solutions that generate economic returns and social good for our communities. What we’ve committed to and successfully yielded at Morgan is a blueprint for inclusive growth.”
In addition to Morgan’s economic contributions, the report highlights the University’s influence in equity-centered development, supporting workforce inclusion, student success and community upliftment. Morgan has undergone a tremendous growth spurt under its current leadership, resulting in a greater campus footprint, newly constructed academic facilities and student housing, increased enrollment surpassing 11,000 students, and the addition of more faculty and academic degree programs — an expansion boom previously unseen since the University’s founding. While Morgan has maintained its prominence as Maryland’s largest HBCU, it has also become the third largest in the nation.
“Our continued investment in people, programs, and place is a model for what a modern, urban-focused high research HBCU, which is on track to become a very high research university, can and should be,” added President Wilson. “We are not just producing graduates; we are producing outcomes to enable Maryland and the nation to become more globally competitive in the long term. These investments in Morgan build not only buildings, but they transform lives and communities.”
About the Report
The 2024 report was prepared by Econsult Solutions, Inc. (ESI), a Philadelphia-based economics consulting firm with deep experience in conducting economic and social impact analyses for universities nationwide. This is the third economic impact report ESI has produced for Morgan since 2018.
Read the 2024 Economic Impact Report and view accompanying data visualizations here.
About Morgan
Morgan State University, founded in 1867, is a Carnegie-classified high research (R2) institution offering more than 150 baccalaureate, master’s degree, doctorate and certificate programs. As Maryland’s Preeminent Public Urban Research University, and the only university to have its entire campus designated as a National Treasure by the National Trust for Historic Preservation, Morgan serves a multiethnic and multiracial student body and seeks to ensure that the doors of higher education are opened as wide as possible to as many as possible. For more information about Morgan State University, visit www.morgan.edu.
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