A new study suggests that Marymount University injects $236 million per year into the local economy, directly and indirectly, and is responsible for a cumulative payroll of approximately $90 million.
The study, released by the university, examines both the university’s direct impact on local economic conditions and indirect impacts, such as student spending.
The numbers show that Marymount is “a major force in the local economy,” the university said, “strengthening the tax base and growing the local economy through current and lifetime revenue, taxes and purchases.”
University president Irma Becerra echoed that. “We are a vital asset to Arlington and Virginia, economically and socially,” she said. Among the facets of the report:
• Marymount’s direct payroll is approximately $39 million.
• University-related indirect salaries add an additional $28 million.
• Off-campus student spending supports an additional $23 million in wage employment.
This does not take into account the impact of Marymount alumni; of the approximately 36,000 living graduates, approximately 15,000 reside in the Washington area and contribute to the local economy.
Marymount was founded in Arlington as a women’s junior college in 1950 by the Order of Roman Catholic Nuns of the Sacred Heart of Mary (RSHM). It evolved over the years, growing to a four-year institution in 1973, adding graduate courses in 1979, and becoming fully coeducational in 1986. It now has two campuses in Arlington and satellite facilities in other parts of Northern Virginia.
Members of the RSHM order served as president of the institution until 2001; the last three presidents (James Bundshuh, Matthew Shank and Becerra) have been secular leaders.[Sun Gazette Newspapers provides content to, but otherwise is unaffiliated with, InsideNoVa or Rappahannock Media LLC.]