COLLEGE STATION - The economic impact of Texas A&M University, the Health Science Center, A&M Agencies and the A&M System offices and activities has almost doubled over the past decade.
For calendar year 2013, the estimated Texas A&M impact on College Station-Bryan and the surrounding area was $4.42 billion, an increase of almost $113 million from 2012 levels and about $2.2 billion more than in 2003 — a 96.4 percent gain.
Those figures are based on the use of a standard 2.5 multiplier effect representing the number of times such generated dollars are typically spent and re-spent in the local economy. The Texas A&M-related funding subject to the multiplier effect was $1.77 billion, representing a gain of almost $50 million over the 2012 level.
The annualized average payroll for the 21,073 Texas A&M and A&M System employees (including student employees) based locally was approximately $889 million for 2013, representing an increase of more than $16 million.
The direct local economic impact of the university's record number of students on the College Station campus was estimated to be $494 million, for a gain of more than $25 million.
Expenditures by visitors attending sporting events and other campus activities totaled an estimated $385 million, almost $8 million more than for the previous year. The estimated number of visitors totaled more than 1.3 million. Texas A&M athletic events accounted for about 960,000 of them, for an increase of more than 86,000.
Construction costs attributed to calendar year 2013 total about $148 million, a decline of approximately $58 million, attributable primarily to the completion of some projects. However, work was started on others during the year, including the $450 million expansion and renovation of Kyle Field.
Read more at the tamuTimes.