Sept. 2, 2025 ̶ ̶ ̶ The University of Memphis is more than an academic powerhouse; it’s a billion-dollar economic engine for the city, region and state. A new economic impact report from Applied Analysis shows that UofM fuels the Mid-South through — including but not limited to — its day-to-day operations, nationally recognized athletics and groundbreaking research.
The study also highlights the University’s role in building Memphis’ workforce. More than two-thirds of UofM graduates remain in the Memphis metro a decade after graduation. Statewide, 74.4% of UofM’s class of 2024 graduates chose to stay in Tennessee.
“This report confirms what we see every day at the University of Memphis — our institution is a driving force of innovation and economic output, creating jobs and strengthening our workforce,” said University of Memphis President Dr. Bill Hardgrave. “Our impact extends well beyond our campus, and we are proud to serve as a flagship institution in Tennessee and the entire Mid-South region.”
University Operations ($1 Billion)
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In 2024, UofM operations generated nearly $1B ($998M) in economic impact, including $547M in direct operating costs and $451M in wages.
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Over the last five years, UofM operations alone have contributed $4.3B to the state economy.
Athletics ($165 Million)
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$165M in economic impact was generated by Tiger athletics in 2024
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$530M over the past three years (This includes $294M from out-of-town visitors and $236M from vendor and employee spending.)
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UofM sports support 1,200 jobs annually and draw nearly 500,000 out-of-town visitors each year
Research ($205 Million)
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In FY24, the UofM secured a record $101M in research funding, doubling its awards since earning Carnegie R1 status in 2021.
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That investment produced a $205M total economic impact.
The University of Memphis is one of the state’s strongest economic multipliers. For every $1 spent on operations, nearly $1.75 flows back into Tennessee’s economy. Research generates an even greater return, with every $1 spent producing just over $2 in statewide economic activity. Taken together, these impacts are about more than numbers. They reflect a university that is fueling the workforce, attracting visitors, driving innovation and strengthening the community, a source of pride and progress for Memphis and Tennessee.
Click here to view the full report.
Media Contact:
Parker King, Assistant Director
University Media and Public Relations
University of Memphis
(O) 901.678.4822
