MURFREESBORO, Tenn. — Middle Tennessee State University alumni, including alumni-owned businesses, generated over $15.2 billion in business revenue in the state over the course of a year — and Rutherford County alone recorded over $4.1 billion, the highest among all counties, a newly compiled report released Monday, Oct. 7, shows.

The 2024 MTSU Alumni Impact Report by the Business and Economic Research Center in the Jennings A. Jones College of Business detailed the positive financial impact made by university’s graduates throughout Tennessee. It also reflected how MTSU, located in Murfreesboro, particularly bolsters the economies of its home and surrounding counties.

MTSU held an event Monday at the Rutherford County Chamber of Commerce on Medical Center Parkway to release the full report to local and state officials based on numbers from 2022, the base statistical year of the study.

“These findings underscore the tremendous and positive, multibillion-dollar economic impact made by our alumni in Tennessee,” said MTSU President Sidney A. McPhee. “We are particularly proud that most of our graduates remain in our state, adding to the workforce, paying taxes, starting businesses and contributing to our communities.” 

Also sharing remarks at the chamber event were MTSU Board of Trustees Chairman Stephen Smith; report author and BERC Director Murat Arik; Jones College of Business Dean Joyce Heames; state Rep. Charlie Baum, MTSU economics and finance professor; Chamber President Paul Latture; and MTSU alumnus Ronald Roberts, managing partner at global marketing agency Finn Partners. 

Here’s a recap of the event:

“I can’t imagine a Rutherford County without an MTSU,” said Latture. “One of the things we do in economic development, when we recruit every single day, we have a leg up because we have a great university in MTSU here.”

Baum, meanwhile, noted that the state is investing approximately $150 million into MTSU this fiscal year compared to the $15 billion in generated revenue based on the report’s finding.

“So I’ll let you figure out what that rate of return is,” he said to a roomful of applause.

Key findings

MTSU alumni in Nashville and Davidson County, including alumni-owned businesses, recorded the second-highest total in business revenue among Tennessee counties (after Rutherford), generating $2.9 billion.

The Nashville, Knoxville, and Chattanooga MSAs had totals of $11.3 billion, $509 million, and $504 million, respectively, in total business revenue impact by MTSU alumni and their businesses.

In 2022, Rutherford County had the largest number of MTSU alumni residents at 32,500. Davidson follows closely behind with more than 19,300. Williamson, Wilson, and Maury counties are next with approximately 10,000, 6,000, and 4,400, respectively.

The report also said:

• Bedford County had the largest proportion of resident alumni as a percentage of the degree-holding population at 45%, followed by Rutherford, Cannon, Coffee, and Warren counties with approximately 42%, 37.5%, 35%, and 34% respectively.
• Over 114,900 MTSU alumni lived and worked in Tennessee in 2022. Georgia (4,000-plus), Florida(3,600-plus), Texas ( nearly 2,500), and Alabama  (2,450-plus) have the largest MTSU alumni populations after Tennessee.

“MTSU has consistently been an influential part of the community and its economy,” the report said. “The quality of an MTSU education and the large number of MTSU graduates ensure an immense impact on the communities in which alumni live and work.”

MTSU is the No. 1 producer of college graduates for the Greater Nashville economy and the largest locally governed higher-education institution in Tennessee.

— Andrew Oppmann (Andrew.Oppmann@mtsu.edu)