Report: TAMIU Generates $374 Million Economic Impact on Webb County, Supports Nearly 6,300 Jobs
Texas A&M International University (TAMIU) generated $374 million in economic impact for Webb County's economy and supported nearly 6,300 jobs during fiscal year 2024, according to a new report by Texas A&M International University’s (TAMIU), A.R. Sanchez, Jr. School of Business Texas Center for Border Economic and Enterprise Development (TCBEED).
TAMIU interim president Juan J. Castillo said the report underscores the vital role the University plays in Laredo, regional and State economies.
“TAMIU produces value in many ways: it plays a crucial role in helping students increase their employability and achieve their potential; it facilitates new research and innovation development, generating new opportunities for the region, and it equips graduates with the education, training, and skills needed for successful and thriving careers. It’s important for us to share this dynamic impact and acknowledge the University’s pivotal role in our economies,” Castillo said.
To access the Economic Impact Analysis FY 2024 Report, visit go.tamiu.edu/eia
The 2024 analysis demonstrates TAMIU's multifaceted value to Webb County explained report author and TCBEEN director Dr. Daniel Covarrubias.
"The University not only strengthens local businesses through increased regional spending but provides a steady pipeline of skilled graduates who enhance the region's human capital. Beyond direct economic impacts, TAMIU transforms individual lives by increasing graduates' lifetime earnings and creating broader societal benefits through a more prosperous regional economy," Dr. Covarrubias explained.
University as Economic Cornerstone
The comprehensive TCBEED analysis reveals TAMIU's significant role as an economic cornerstone in South Texas. Its impact represents 3.3 percent of Webb County's total Gross Regional Product (GRP), placing the University among the top two percent of the county's industry sectors.
In FY24, TAMIU disbursed $77 million in payroll and benefits to 1,778 full and part-time employees. The University's operations and student spending generated $183 million in economic impact, supporting 2,361 jobs. Additionally, TAMIU alumni working in Webb County contributed $186 million to the regional economy, supporting 3,885 jobs.
The Multiplier Effect
The University's economic influence extends beyond direct spending through a powerful multiplier effect. For every dollar invested in and by TAMIU, an additional 76 cents is generated in regional economic activity. The employment multiplier of 1.21 indicates that each TAMIU position supports an additional one-fifth of a job in the broader economy.
Workforce Development
The report highlights TAMIU's role in workforce development, noting that University graduates earn significantly more than those with only a high school diploma. In Webb County, workers with bachelor's degrees earn an average of $52,125 annually, representing a $24,036 premium over high school graduates.
Methodology
The study, which utilized IMPLAN Input/Output modeling to calculate both direct and indirect economic effects, also revealed strong fiscal efficiency. When all impacts were considered, the return on investment (ROI) ratio was 6.2. This further demonstrates TAMIU's position as a powerful driver of regional economic growth.
For more information about TAMIU's TCBEED and its research initiatives, please visit http://texascenter.tamiu.edu, email Dr. Covarrubias at dcova@tamiu.edu, call 956.326.2520, or visit offices located in the Anthony J. and Georgia A. Pellegrino Hall, room 216.
Registration for Spring 2025 classes at TAMIU is underway online via Uconnect. Classes begin Tuesday, Jan. 21, 2025.
To learn more about TAMIU’s Registration processes, visit the dedicated Registration Hub at https://go.tamiu.edu/registration.
Incoming and new TAMIU students can also get a sneak peek at what’s in store this Spring semester 2025 at go.tamiu.edu/springpreview
More on the University’s story is also found at tamiu.edu and on the University’s social media channels on Facebook, Instagram, LinkedIn, Twitter, and YouTube.
