Econsult Solutions, Inc. (ESI) worked with Davidson College to conduct an economic and social impact study.
Davidson College is a 4-year private liberal arts college located in Davidson, North Carolina, with approximately 2,000 matriculated residential students.
In this economic impact study, ESI calculated impacts from annual operations, capital investments, ancillary spendings, and the alumni wage premium, and found Davidson generated $488 million in economic impact in the state of North Carolina, with $431 million of those impacts coming from within the Charlotte Metropolitan Statistical Area (MSA).
ESI also calculated fiscal impacts for the school and found that Davidson supported 2,290 jobs in North Carolina, with 2,000 coming from the Charlotte MSA, and generated $21 million in tax revenue for the state.
Another aspect of economic impact ESI examined was that of the athletics department. While the school is not large, 19 of its athletics programs participate in the Atlantic 10 Conference, and its wrestling team competes at the NCAA Division I FSC level. ESI estimated that athletics events brought in 100,000 visitors in 2023 who spent approximately $4.3 million.
ESI produced short profiles of notable alumni, like NBA star Stephen Curry and former Secretary of Transportation Anthony Foxx. Additionally, ESI examined other features of Davidson that are not directly quantifiable, still add value to students’ education and the surrounding community. For instance, the Davidson Trust allows the school to meet 100 percent of the calculated financial need for students.