Background
An economic impact study conducted by Lightcast Market Analytics in 2023 found that William & Mary creates a significant positive net impact on the business community and generates a substantial return on investment to students, taxpayers and society.
Impact on the Commonwealth
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$ 1.1 billion
in income added to the Virginia economy in 2019-2020 by the university
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12,842
W&M's economic impact translates to nearly 13,000 jobs for the Commonwealth
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$ 16.2 million
Income added to the Virginia economy by out-of-state visitors attending activities at W&M
Background
Data from the study supports William & Mary’s key role in helping students increase their employability and achieve their individual potential. It also emphasizes the positive effect the university has in facilitating new research developments, as well as its capacity to draw students to the region, serve regional businesses and generate revenue and opportunities throughout Virginia.
The study measured the net economic impact created by William & Mary in the region and state. The results reflect employee, student and financial data provided by the university for the 2020 fiscal year. Impacts on the university’s service area economy are measured in terms of added income.
View the Executive Summary (pdf)
View the Main Report (pdf)
