The landmark study, titled “HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities,” said that public HBCUs account for $9.6 billion of that total economic impact, while private HBCUs account for $5.2 billion.
“The estimate includes direct spending by HBCUs on faculty, employees, academic programs and operations, and by students attending the institutions, as well as the follow-on effects of that spending,” the report said.
The combined economic impact is equivalent to a top 200 ranking on the Fortune 500 list of America’s largest corporations.
“The presence of an HBCU means a boost to economic activity, on and off—and even well beyond—campus. Stronger growth, stronger communities, more jobs and a more talented workforce,” UNCF authors wrote in the report.
Fact sheets for the economic impact of individual HBCUs are available at https://www.uncf.org/programs/hbcu-impact.
NATIONAL MUSEUM OF AFRICAN AMERICAN HISTORY & CULTURE | WASHINGTON, DC
The National Museum of African American History and Culture is the only national museum devoted exclusively to the documentation of African American life, history, and culture. It was established by Act of Congress in 2003, following decades of efforts to promote and highlight the contributions of African Americans. To date, the Museum has collected more than 36,000 artifacts and nearly 100,000 individuals have become charter members. The Museum opened to the public on September 24, 2016, as the 19th and newest museum of the Smithsonian Institution. (Website).