.svg)
EXECUTIVE SUMMARY
Lawrence Technological University has a significant economic impact on Southfield and the Metro Detroit area. LTU injected $377 million into the region during 2019-20.
LTU produces some of the nation’s highest-earning graduates. Their higher salaries allow for better lifestyles that save the community on expenses such as healthcare. In addition, LTU’s entrepreneurial alumni go on to start their own firms, becoming job creators and generating additional revenue in Metro Detroit. The University provides jobs on campus as well as creating jobs at local businesses frequented by LTU faculty, staff, students, alumni, visitors, and other partners. Through community service, clinical hours, dual enrollment, and internships, the University touches the lives of tens of thousands of people and provides a net benefit to the City of Southfield and the region.
This report was created to demonstrate the benefits Lawrence Tech provides to the area by quantifying the impacts from January 1, 2019 to June 30, 2020.
KEY FINDINGS
$377 Million
Total amount that LTU contributed in economic impact to Metro Detroit during 2019-2020.
$85
Million
Amount of money that LTU has pumped directly into Metro Detroit in the last decade through building projects.
24,297
Number of LTU Alumni in Metro Detroit.
1,232
Number of jobs created in Metro Detroit because of LTU.
IMPACT
UNIVERSITY SPENDING
Direct spending from LTU, its employees, students, and visitors, as well as secondary spending by businesses and governments contributed $49 million in economic impact.
| $12.5 million | LTU Spending |
| $21.1 million | Employee Spending |
| $12.1 million | Student Spending |
| $3.4 million | Visitor Spending |
KNOWLEDGE
LTU alumni contributed $252 million in increased earnings and $76 million in social benefits.
| 1,072 | Southfield Alumni |
| 11,062 | Oakland County Alumni |
| 24,297 | Metro Detroit Alumni |
| 33,800 | Alumni in the US |
SOCIAL BENEFIT
| $8.6 million | Reduced Absenteeism |
| $2.8 million | Reduced Alcoholism |
| $3.4 million | Reduced Crime Victim Cost |
| $10.3 million | Reduced Incarceration |
| $4.3 million | Reduced Smoking |
| $26.5 million | Reduced Unemployment |
| $19.8 million | Reduced Welfare Spending |
LOCAL GOVERNMENT
The City of Southfield treasury received an $801,000 net benefit due to the presence of LTU.
| $1.5 million | Revenues to Southfield City Government |
| $0.7 million | Service Costs to Southfield City Government |
| $801,000 | Net Benefit to Southfield City Government |
RESEARCH
$8.3 million in research grants since 2017.
| 7 | Research Institutes |
| 12 | Research Labs |
| 112 | Faculty Research Day Presentations |
| 1,125 | Industry Sponsored Project Research Hours |
| $8.3 million | Grant Funds Since 2017 |
ENTREPRENEURSHIP
2,030 LTU alumni-owned businesses generated $349 million in revenue.
| 12 | Accelerator Firm Products Commercialized |
| 46 | Companies Served by the Centrepolis Accelerator |
| 2,030 | Small Businesses owned by LTU Alumni |
| 5,080 | Employees of LTU Alumniowned Firms |
| $34 million | million Revenues of Firms Assisted by Centrepolis Accelerator |
| $349 million | Revenues of LTU Alumniowned Firms |
COMMUNITY ENGAGEMENT
LTU employees and students spent 178,755 hours in service to the local community, the equivalent of one person working around the clock for over 20 years
| 2,489 | Robofest Competitors Worldwide |
| 3,770 | Exhibit and Lecture Attendance |
| 6,780 | Community Service Hours |
| 7,933 | Prospective Student Visits |
| 8,865 | Nursing Clinical Hours |
| 11,310 | Marburger STEM Center Contact Hours |
| 13,160 | Work Study Hours |
| 32,670 | Dual Enrollment Class Hours |
| 34,550 | Detroit Center Facility Usage Hours |
| 59,460 | Internship and Co-op Hours |
READ MORE
