Sep 15, 2010
KCBD-NBC - LUBBOCK, TX (KCBD) - A new study shows that Texas Tech University has a billion dollar economic impact on Lubbock.
Texas Tech University helped sustain nearly 15,000 jobs and contributed $1.26 billion to the economic pulse of Lubbock County, according to the Economic Impact of Texas Tech University study released Wednesday.
Employees of the University provided a $612-million infusion on annual household earnings, 48 percent of the total economic impact.
University students spent $294 million locally, while 3,261 jobs held by students provided $80 million in household income.
'The updated study notes the impact of Texas Tech is more than $1.25 billion and our strategic enrollment plan of increasing enrollment to 40,000 students by the year 2020 will significantly increase the economic growth of the Lubbock community,' said Michael Shonrock, Texas Tech Vice President for Student Affairs.
The report provides estimates of the economic impact of Texas Tech on Lubbock County for 2009.
The study represents only Texas Tech and does not include the Texas Tech University Health Sciences Center.
One way Texas Tech creates so much revenue for the city is through Red Raider football games.
KCBD NewsChannel 11 is looking into how much revenue the TTU vs. UT home game, is expected to bring into Lubbock.
tags: Texas Tech in the News
