A newly released economic impact analysis shows that the Southwest Virginia Higher Education Center generates nearly $30 million in annual economic activity, supporting jobs, businesses, and local tax revenue throughout Southwest Virginia.
The study, compiled by BRIDGE using IMPLAN economic modeling software and data provided by the Southwest Virginia Higher Education Center, found that the Center’s operations generate an estimated $29.8 million in total annual economic output, support 148 regional jobs, and contribute more than $4 million in local tax revenue each year.
The analysis highlights the significant “multiplier effect” created by the Center’s presence in the region. While 73 individuals work within the Center and its tenant organizations, the economic activity generated by those operations supports an additional 75 jobs throughout the regional economy.
“For more than 35 years, the Higher Education Center has served as a catalyst for educational opportunity, workforce development, and economic growth in Southwest Virginia,” said David Matlock, Executive Director of the Southwest Virginia Higher Education Center. “This study helps quantify the value the Center brings to the region and demonstrates that investments in education and workforce development create lasting benefits for our communities.”
According to the analysis, every dollar invested through the Commonwealth’s state general fund generates approximately $8 in economic activity. Additionally, for every job located at the Center, the regional economy gains 1.03 additional jobs elsewhere, reflecting the impact of local purchasing, vendor relationships, and employee spending.
Importantly, the analysis represents only a portion of the Center’s overall influence on the region. The figures do not include student spending, student wages earned after graduation, or the long-term economic benefits generated by graduates of the Center’s academic partner programs. Instead, the study focuses solely on the economic activity generated through the operations of the Higher Education Center and the organizations housed within the facility.
The findings reinforce the Center’s mission of strengthening the regional economy by providing access to higher education, workforce training, and professional development opportunities. Through partnerships with colleges, universities, employers, and community organizations, the Center continues to support both current workforce needs and future economic growth across Southwest Virginia.
The economic impact analysis was compiled by BRIDGE using IMPLAN software with data sourced from the Southwest Virginia Higher Education Center. A summary infographic of the findings is available below, and the full report can be downloaded here.
