Harlan Kirgan
LSU’s economic impact on the Tri-Parish area exceeds $52 million a year, according to an economic impact study compiled by the Economics & Policy Research Group at LSU’s E. J. Ourso College of Business this month.
The report stated, during the 2017 fiscal year, LSU was responsible for $5.1 billion in economic impact to the state, which is effectively $1,097 per Louisiana citizen.
LSU also is directly responsible for 41,006 jobs, a total of 20,366 of which are directly attributable to the university. All told, the entire LSU entity supports 2.6 percent of all Louisiana jobs.
Collectively, 2016 LSU graduates will enjoy increased earnings totaling $8.6 billion, the report stated.
The primary impact of the LSU system is from LSU Eunice, which is located in Eunice and Acadia Parish.
The impact in St. Landry is $30,303,535 followed by $16,908,690 in Acadia Parish and $5,290,805 in Evangeline Parish.
Eunice Mayor Scott Fontenot said, “I think the economic impact the jobs it creates and the indirect jobs are great for the city and it would be a huge blow to our city if something ever happened and it wouldn’t be there any more.”
LSUE is one of the biggest economic drivers in the area, he said.
“They have great leadership there and we want to piggyback on what they are doing,” Fontenot said.
LSUE recently announced it is adding men’s and women’s soccer, and men’s basketball to its sports teams.
Those programs will bring additional people to Eunice, Fontenot said.
“We’ve got something there at LSUE that no other town like Eunice has. I think we need to take advantage of it,” he said.
Among the findings in the LSU report:
— LSUE has 182 direct jobs in 2017.
— LSUE’s 2017 operations supported over $104 million in economic output and $22 million in earnings from 655 jobs in the state.
— The direct impact of LSUE is $64.7 million, and a payroll of $7.4 million from the 182 jobs in 2017.
— LSUE has an indirect impact of $38.6 million and $14.8 million in earnings from 473 jobs.
The report stated the LSUE’s impact was measured by the university spending and student spending.
Bill Rodier, St. Landry Economic Development executive director, said, “LSUE creates a model that we need to replicate in the future when it comes to workforce development and education.”
Rodier said the two-year programs at LSUE allow students to prepare for a four-year college as they mature and do so at a savings.
“I think it is a real gem in our Tri-Parish area,” he said.
LSU President F. King Alexander visited the LSUE campus in February as part of state tour entitled, “LSU 2025: Challenge Accepted | LSU’s Role in Addressing the Biggest Problems Facing Our State – And Our Nation.”
“LSU is truly a game-changer for the state. Through research, education and outreach, we are able to solve the greatest challenges facing Louisiana while boosting our state’s economy,” Alexander said. “We are among the 1 percent of universities able to claim the designation of land-, sea-, and space-grant institution, and that unique combination not only brings a tremendous amount of research grants to our state, but also attracts outside business and out-of-state students while simultaneously helping Louisiana retain its most talented citizens.”