For over 150 years, Historically Black Colleges and Universities (HBCUs) have not only been sites of academic excellence but also powerful economic engines in their local and regional communities, leaving a lasting mark on the nation's landscape. Beyond classrooms and campuses, the impact of HBCUs resonates in various economic and community development initiatives that transcend traditional education boundaries, fostering job growth, workforce development, and training opportunities.
Dr. Levon T. Esters
A 2018 UNCF report shed light on the substantial national-level impact of HBCUs, revealing that these institutions annually generate 134,090 jobs and contribute $14.8 billion to their local and regional economies. Moreover, the average lifetime earnings of HBCU graduates are estimated at an impressive $130 billion, attesting to the enduring value of an HBCU education. In the 21 states and territories hosting HBCUs, these institutions provide an average of 6,385 jobs annually and generate an average economic impact of $704.7 million per state. Particularly noteworthy is the role HBCUs play in regions where overall economic activity has been lagging, amplifying their significance in revitalizing communities.
HBCUs are not merely educational institutions; they are vital contributors to community empowerment through cultural, civic, and intellectual engagement efforts. The dollars spent by HBCUs and their students reverberate across a broader area, creating a ripple effect that stimulates economic activity, generates employment, fuels growth, and builds stronger communities.
Dr. Marybeth Gasman
To truly comprehend the role HBCUs play in community and economic development, it is essential to understand the complementary nature of these terms. Community development involves collective action across various realms, from physical and environmental to cultural, social, political, and economic. In contrast, economic development is a deliberate practice aimed at enhancing a community's economic well-being and overall quality of life. It encompasses activities to attract, create, and retain jobs while fostering a resilient, pro-growth tax base and an inclusive economy, requiring collaboration among industry, government, and community stakeholders.
HBCUs are institutions with a significant infrastructure investment in their communities. These institutions, by virtue of their mission, have invested capital and relationships in the community, playing a crucial role in the economic health of their surroundings. As Dr. Roslyn Artis, president of Benedict College, aptly put it when talking with us, "HBCUs serve their communities by understanding that they must be engines of economic growth and prosperity." Benedict College's proactive approach, including a community development corporation and affordable housing initiatives, exemplifies how HBCUs contribute tangibly to their communities.
Likewise, when we interviewed Dr. David Wilson, president of Morgan State University, he emphasized the symbiotic relationship between HBCUs and their local communities. He highlighted that as HBCUs thrive, so should the communities around them, or else they risk becoming isolated entities. Wilson's commitment to community engagement and economic growth is evident in Morgan State University's transformative impact on the neighborhoods surrounding the campus.
