Study shows JMU provides significant economic benefits to Harrisonburg, the Shenandoah Valley and Virginia

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The Weldon Cooper Center for Public Service published “The Economic Impact of James Madison University on the Harrisonburg Metropolitan Area and Commonwealth of Virginia” in late December 2023. The study focused on fiscal year 2021-22 and is the fifth economic impact study conducted for JMU over the last two decades. The last one was completed in 2016. 

While still recovering from the negative economic effects of the COVID-19 pandemic, JMU’s impact on the local, regional and commonwealth economies was significant and positive. 

economic impact report infographic fy22

 economic impact report infographic fy22 tax revenue

economic impact report infographic fy22 employment

economic impact report infographic fy22 visitors

JMU had an operating budget of $641,938,067 in FY 2022, with $139,724,714 coming from Virginia’s General Fund and the rest coming from tuition, fees and other revenue. Given that the Weldon Cooper Center study found that the university’s overall economic impact was $793,400,572 in FY22, the university more than pays for its operations through its own spending and the spending of students, faculty and visitors.  

Such economic activity is critical to the vitality of Harrisonburg, the region and the commonwealth. But that’s not the only story. The Weldon Cooper Center study pointed out, “Although the flows of economic activity that result from expenditures and employment related to the operation of James Madison University are important to the economies of both the Harrisonburg Metropolitan Area and Commonwealth of Virginia, the university makes numerous other economic and social contributions to the region and state. Indeed, these activities are at the heart of the university mission, which promotes student learning and engagement through research and community and civic service."

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Published: Thursday, February 15, 2024

Last Updated: Wednesday, March 13, 2024

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