Southeast Missouri State University makes a profound and far-reaching contribution to Missouri’s economy, according to a new Economic Impact Study presented to the SEMO Board of Governors by international labor market analytics firm Lightcast. The report reveals that SEMO contributed a staggering $1.4 billion to the state’s economy in fiscal year 2023-24, equivalent to supporting 14,725 jobs across Missouri and providing a substantial return for the students and taxpayers who invest in the University.
The analysis highlights the University’s powerful role as an engine for economic growth, workforce development and social opportunity. SEMO’s influence extends across multiple fronts from student and alumni contributions to operational and visitor spending, to statewide taxpayer returns.
“This study confirms what many in our community already know. SEMO is not just a place of learning; it’s a driver of economic vitality,” said SEMO President Dr. Carlos Vargas. “From our campuses in Cape Girardeau, Kennett, and Sikeston, our work fuels opportunity, innovation and growth for the entire state of Missouri.”
A Catalyst for Statewide Prosperity
The economic impact analysis shows how SEMO drives income across the state:
- $90.2 million from operations spending by the University
- $8.7 million from out-of-state visitor spending when attending University events
- $36.1 million from SEMO student spending
- $1.3 billion from alumni earnings and business productivity statewide
A Smart Investment for Students, Taxpayers, and Society
The study also offers a detailed investment analysis, showing the return students and taxpayers receive over time for their investment in SEMO:
- Students see an average of $6.50 in higher lifetime earnings for every $1 invested in their SEMO education, with an annual rate of return of 22.1%.
- Taxpayers receive $2.50 in value for every $1 of public money invested in SEMO, through increased tax revenue and reduced social costs.
- Society at large has a return of $11.70 for every $1 of public money invested in SEMO, seeing benefits of $2.4 billion through higher earnings, improved health outcomes, reduced crime and decreased dependence on public assistance.
SEMO conducted a similar study in 2020 which found the University contributed nearly a billion dollars to the state’s economy.
“The data speak volumes. SEMO delivers a return that rivals or surpasses most private investments,” said Vargas. “But the study shows more than just dollars and cents, SEMO’s impact is truly shaping the lives of our students and their families as well as strengthening communities. Southeast Missouri State University is transforming lives and transforming Missouri’s economy.”
For additional information on the Economic Impact Study, visit semo.edu/economic.