UNCF Announces the Release of the 2024 HBCU Economic Impact Report, Highlighting the Critical Contributions of Huston-Tillotson University (HT)
Friday Sep, 20 2024
HT Among Key Institutions Featured in the Report and Showcasing its Role as a Vital Economic Engine in Texas
Austin, Texas – September 20, 2024 – This month, UNCF (United Negro College Fund), the nation’s largest and most effective minority education organization, proudly unveiled its 2024 HBCU Economic Impact Report. The report, Transforming Futures: The Economic Engine of HBCUs, commissioned by UNCF’s Frederick D. Patterson Research Institute (FDPRI), is a comprehensive, data-driven analysis highlighting the substantial contributions that historically Black colleges and universities (HBCUs) make to their students, local communities and the nation. Huston-Tillotson University (HT) is a UNCF-member institution, and its impact on the nation’s economy is significant.
HBCUs have long been pillars of educational excellence and economic engines, driving prosperity across the nation. Despite these contributions, chronic underfunding threatens their ability to maintain this high level of impact. Transforming Futures: The Economic Engines of HBCUs underscores the urgent need for equitable and sustainable funding to ensure HBCUs can continue their vital role in promoting social mobility and economic growth and calls on the public to advocate for these essential institutions.
Through the production and consumption of various goods and services by its faculty, employees and student, HT acts as a catalyst for economic growth locally and regionally; thereby creating a ripple effect that results in increased employment opportunities, heightened economic expansion and a more dynamic community environment. Annually, HT powers the economy of the state of Texas, including, but not limited to $57.6 million in total economic impact, 429 jobs, and $602.8 million in total lifetime earnings of its 2021 graduates.
“As a proud member of the United Negro College Fund, HT contributes significantly to the economic vitality of Texas,” said HT President and CEO Melva K. Wallace. “Our graduates fuel the workforce, especially in high-demand fields, while our institution itself generates employment and stimulates local businesses. Beyond education, our community engagements, partnerships, and entrepreneurial activities create ripples of economic growth throughout the state. Being part of the UNCF network amplifies our ability to develop diverse talent, foster innovation, and create opportunities that benefit not only Austin, but the entire state of Texas.”
“As UNCF observes its 80th anniversary, one of the highlights of our yearlong celebration is the release of the sequel to our groundbreaking 2017 report. This report reaffirms what we have always known about the resilience of HBCUs: despite a deadly pandemic, social unrest caused by the murders of George Floyd and Breonna Taylor, and the economic uncertainties of the past seven years, HBCUs continue to do more with less— not only in preparing the next generation of leaders but also in contributing to our nation’s economic impact,” said Dr. Michael L. Lomax, president and CEO, UNCF. “At this critical moment, with a crucial election on the horizon, we all must immediately actualize our commitment to these cornerstone institutions.”
Transforming Futures: The Economic Engines of HBCUs is a continuation of the landmark 2017 study, HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities, which showed that the economic benefits of HBCUs extend beyond the students they educate. In addition to the comprehensive report, a website has been launched where users can explore state-specific data and insights for individual HCBUs. This resource allows users to explore the localized impact of any given HBCU, emphasizing the critical role HBCUs play in communities across the nation.
In the months to come, UNCF will shift its focus towards voter mobilization efforts, leveraging the findings of the 2024 HBCU Economic Impact Report to raise awareness about the critical role of HBCUs nationwide. UNCF encourages voters to support policies that strengthen HCBUs, and to send letters to elected leaders at the state and federal levels in support of equitable funding and resources for these crucial institutions.
To explore the full report of Transforming Futures: The Economic Engines of HBCUs, visit: https://UNCF.org/HBCUImpactReport .
For more information on how to actualize a commitment and be a voice for HBCUs, visit: https://UNCF.org/EquityPledge.
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About Huston-Tillotson University
Huston-Tillotson University, the first institution of higher education in Austin, Texas, has roots dating back to 1875. HT is an independent, church-related, historically black, four-year liberal arts institution located on a 23-acre tree-lined campus near downtown in East Austin. Huston-Tillotson University’s mission is a faith-based historically black college and university (HBCU) nestled in the vibrant heart of downtown Austin, Texas. The institution provides a robust liberal arts and STEM education through market-driven certifications, associate, baccalaureate, master’s degrees, and centers of excellence. HT remains committed to its legacy of educating a mosaic community of learners while cultivating innovative leaders who are dedicated to academic excellence and service. The University offers associate and master’s degrees in addition to Bachelor of Arts and Bachelor of Science degrees in more than 19 areas of study. Huston-Tillotson University is accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) to award associate, baccalaureate and master’s degrees. HT is also an NC-SARA school. For more information, please visit www.htu.edu.
About UNCF
UNCF (United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. While totaling only 3% of all colleges and universities, UNCF institutions and other historically Black colleges and universities are highly effective, awarding 15% of bachelor’s degrees, 5% of master’s degrees, 10% of doctoral degrees and 19% of all STEM degrees earned by Black students in higher education. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 50,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, ‟A mind is a terrible thing to waste.”® Learn more at UNCF.org or for continuous updates and news, follow UNCF on X (formerly Twitter) at @UNCF.
About Frederick D. Patterson Research Institute
UNCF’s Frederick D. Patterson Research Institute (FDPRI) is the nation’s foremost research organization focusing on the educational status of African Americans from preschool to and through college. Committed to understanding and expanding the pathways that lead to educational attainment, FDPRI conducts and disseminates research that informs policymakers, educators, philanthropists and the general public on how to best improve educational opportunities for and outcomes of African Americans and other underrepresented minorities across the pre-school-through-college-graduation pipeline.
