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Morgan State’s economic impact tops $1B statewide, study shows

(Chart courtesy of Morgan State University)

(Chart courtesy of Morgan State University)

A study released by Econsult Solutions Inc. (ESI) shows Morgan State University generates $1.1 billion in annual financial impact on Maryland and $640 million within Baltimore.

The report, announced Monday by university President David K. Wilson, reveal an 11.1% increase in statewide impact and an 11.5% increase in citywide impact since the university’s last commissioned study in 2018.

The FY21 study, conducted by the national economic consulting firm, also found that Morgan is responsible for supporting 6,900 jobs statewide, nearly 4,200 within the city, accounting for $558 million in Maryland wages and $188 million in Baltimore.

Rendering of Morgan's new, $156-million Health and Human Services Building which is currently under construction. (Rendering courtesy of Morgan State University)

Rendering of Morgan’s new, $156-million Health and Human Services Building which is currently under construction. (Rendering courtesy of Morgan State University)

The methodology of this study and its findings focused on an in-depth examination of seven key areas: operations, capital investments, student and visitor spending, wage premium, commitment to community, innovation and economic opportunities to diverse populations, local and statewide.

Paramount to the economic impact report are the outcomes detailed in relation to Morgan’s research and innovation. Designated Maryland’s preeminent public urban research university, Morgan has research and innovation at the cornerstone of its mission to produce meaningful scientific discoveries, spur startup ventures and tackle issues of strategic importance to the state.

Adjusting in scale to account for disparities within the landscape of research universities (in Maryland and nationwide), the report’s “innovation metrics” calibrates research expenditures per $10 million, revealing a significantly higher production rate for Morgan-based research output. Per $10 million in research expenditures, Morgan produced invention disclosures, new patent applications and other key innovation outputs (issued U.S. patents; option and license agreements; start-up companies) at rates considerably higher than Maryland and national averages — a key performance indicator of the ability to initiate new scientific breakthroughs. Morgan now generates from two to nine times the U.S. average of the stated metric outputs per R&D expenditure input.

ESI is a Philadelphia-based economic consulting firm. It provides businesses and public policy makers with economic consulting services in urban economics, real estate economics, transportation, public infrastructure, economic development, public policy and finance, community and neighborhood development and planning, as well as expert witness services in support of litigation.

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