The Texas Tech University System (TTU System) has reinforced its role as a powerful economic engine for Texas, contributing a staggering $19.2 billion to the state’s economy in 2024. This marks a $2.8 billion increase since 2021, according to a newly released study assessing the system’s financial influence.
The study, commissioned by the Office of the Chancellor and conducted by Bradley T. Ewing, Ph.D., of the Texas Tech University Rawls College of Business, analyzed the economic impact of the system’s five component institutions:
Texas Tech University (TTU)
Texas Tech University Health Sciences Center (TTUHSC)
Angelo State University (ASU)
Texas Tech University Health Sciences Center El Paso (TTUHSC El Paso)
Midwestern State University (MSU Texas)
A Growing Economic Force
The report highlights the TTU System’s contributions in four key areas:
Annual workforce contributions by alumni
Employment impact
Labor income
Overall economic output
According to the study, graduates from TTU System institutions added $10.3 billion to the Texas workforce in 2024, an increase of more than $1 billion compared to 2021. Additionally, the system’s total employment impact surged to 57,000 jobs, growing by more than 10,000 jobs in just three years.
“This data highlights the important role our system and five component universities play in the economies of our state and the communities we serve,” said Tedd L. Mitchell, M.D., chancellor of the TTU System. “It is a testament to our continued commitment to developing workforce-ready graduates, conducting innovative research, and providing critical health care, services, and resources to those who need it most.”
A Strong Return on Investment for Texas
Beyond job creation and workforce contributions, the study also emphasized the significant return on investment for Texas taxpayers. For every $1 the Texas Legislature invested in the TTU System, the state economy received nearly $21 in return.
This level of impact places the TTU System among the most influential university networks in Texas and one of only nine university systems nationwide offering a comprehensive range of academic programs. These include undergraduate degrees as well as professional education in medicine, law, nursing, pharmacy, dentistry, and veterinary studies.
A Record-Breaking Year for Enrollment and Research
The TTU System also set new milestones in 2024, surpassing 64,000 students in systemwide enrollment for the first time in its history. Additionally, total research expenditures exceeded $300 million, underscoring the system’s growing influence in innovation, scientific discovery, and technological advancement.
How the Economic Impact Was Measured
Dr. Ewing’s study used an input-output model to assess the TTU System’s economic contributions on regional and statewide levels. The analysis factored in:
Annual operating budgets
Research expenditures
Student enrollment
Spending by the system, employees, visitors, and students
By leveraging these key financial indicators, the study provided a comprehensive picture of how the TTU System drives economic growth across Texas.
The Bigger Picture
The findings reinforce the TTU System’s growing role as a driving force in education, workforce development, and economic stability across Texas. With continued investment in research, healthcare, and professional education, the system is poised to expand its impact even further in the years to come.
