A new economic impact study released by the Oklahoma State Regents for Higher Education reveals Murray State College’s return on investment has grown significantly, increasing from $9.90 for every dollar invested to $16.38 in output.

 

A new report reveals that Murray State College is a powerful economic engine for the State of Oklahoma, generating $121.84 million in total economic impact in fiscal year 2024. This total reflects the combined effects of the college’s operational spending and the spending of its students and alumni throughout the state.

The college is also experiencing strong momentum in student enrollment, with a 6% increase in summer headcount enrollment compared to the previous year, in addition to a 38% year-over-year increase since 2022. These gains reflect continued confidence in Murray State’s programs and its growing reputation for quality, accessible higher education.

In addition to enrollment growth, the college is following an intentional plan, with more than $50 million in facility renovation and new construction currently underway on the Ardmore and Tishomingo campuses, creating jobs for the institution and area businesses.

Murray State’s activities supported 1,132 jobs and $51.30 million in wages across Oklahoma. These impacts extend beyond campus and into communities large and small, reinforcing Murray State College’s role in strengthening the state’s economy.

“Murray State College isn’t just educating students; we’re fueling local economies and building a stronger future for Oklahoma,” said Dr. Tim Faltyn, Murray State College President. “We are proud of the role we play in transforming lives and communities, and we remain committed to delivering high value for our students and our state.”

In addition to creating jobs and driving economic output, the college and its extended community generated $3.68 million in fiscal benefits for state and local governments during FY 2024. This includes $1.85 million in income tax revenue and $1.83 million in sales tax revenue—funds that help support critical public services and infrastructure.

In fiscal year 2024, Murray State College received $7.44 million in appropriations from the Oklahoma Legislature, accounting for 20% of the college’s total income. For every dollar invested, the college returned $16.38 in total economic output – a significant increase from the $9.90 return reported in the 2018 study.

“As someone who cares deeply about this college and our region, it’s exciting to see how far we’ve come,” said Keith Gray, Murray State College Board of Regents Secretary. “Nearly doubling our return on investment shows we’re making smart decisions and creating real value – not just for our students, but for the southern Oklahoma economy. It’s a clear sign that we’re doing our part to build a stronger, more sustainable future.”