A new report released on Aug. 2 by Econsult Solutions Inc. details Tulane University’s extensive economic impact on New Orleans and the state of Louisiana. The report shows Tulane’s $5.2 billion annual impact in Louisiana through annual operations, construction projects and spending by university affiliates.  

According to the study, Tulane’s economic impact in New Orleans alone totals $2.3 billion each year. The report says that through spending projects like the building of Lake and River Residential Halls and everyday operations of the Uptown and Downtown campuses, Tulane “acts as a major engine for economic growth in the area.”  

“Tulane has been an incredible anchor and driver for our local economy for decades,” New Orleans City Council President Helena Moreno said. 

Through annual operations, Tulane supports more than 17,000 jobs in New Orleans alone. Over 30,000 jobs in the state are linked back to the university. These jobs span academic positions, construction work and employment alumni with careers in the region create.  

Although the university is property-tax exempt, it brings $88.2 million in tax revenue to Louisiana annually.  

“The piece that people often forget is the taxes,” Toni Weiss, senior professor of practice in economics, said. “They do flow into Orleans Parish and Louisiana because of the fact that Tulane is here.”  

The report also looks at Tulane’s broader societal impact.  

“Tulane has the ability due to the economic impact that it generates to have fairly big power in the city and in the state,” Weiss said.  

The university commissioned the last study on economic impact in 2019. Since then, there has been substantial overall growth from the $3.14 billion impact previously found. Tulane’s impact is “expected to continue to grow” in the next 10 years.