Birmingham-Southern College this week released a study by M. Keivan Deravi of Economic Research Services Inc. that asserts the college has an impact of $97.2 million annually on Alabama’s economy.
Birmingham-Southern College traces its history to 1858. BSC formed from a 1918 merger of Southern University, dating to 1856, and Birmingham College, dating to 1898, both founded by the Methodist Church. As it seeks public funding to stay afloat, Birmingham-Southern College has touted its value to the state by issuing an economic impact statement.
The private liberal arts college, founded in 1856, is asking for $30 million in funding from the State of Alabama, $5 million from the City of Birmingham and $2.5 million from Jefferson County. Deravi based his economic impact statement on recent financial information from the college. BSC has 292 employees who were paid a total of nearly $21.7 million in salary and benefits in fiscal year 2022. It had 972 full-time students, 604 of whom were Alabama residents, with 40 percent from Jefferson County.
Deravi then uses multiplier effects to calculate total impact of $97.2 million on the state’s economy.
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