Washington University in St. Louis continues to play a vital role in the local economy, providing jobs, supporting local businesses and drawing millions in research dollars to the region. During fiscal year 2023 which concluded on June 30, the university’s direct and indirect contributions to the St. Louis economy totaled $8.8 billion. WashU also supported a total of 54,380 jobs in the region.
“At WashU, we’re proud of our global reach as an educational and research institution. But we are equally proud to be a citizen of our hometown of St. Louis,” said Chancellor Andrew D. Martin. “We recognize the creativity and innovation already abundant in our city, and we seek to leverage our strengths in order to advance health, educational opportunities, economic mobility and racial equity for all St. Louisans, and indeed, for the broader Missouri and southern Illinois region.”
In 2023, WashU directly contributed $3.6 billion to the local economy, spending $379 million in construction, $266 million in local goods and services and $2.1 billion in employee compensation. With 20,765 employees, WashU is the region’s second-largest employer. In addition, WashU students spent $212 million at local businesses.
WashU also is working to be more accessible. The university recently unveiled its new no-loan policy and, in 2023, invested $477 million in financial aid, including $6.7 million in aid to 83 WashU Pledge scholars from Missouri and southern Illinois. The Princeton Review recognized these strides, naming WashU #1 in the nation for financial aid.
Read full story in The Source