WASHINGTON, DC (September 9, 2024) — Howard University released its economic impact findings highlighting the institution’s $1.575 billion total economic impact on the Washington Metropolitan area. 

The economic impact findings were presented during an event “HBCUs as Catalysts for Regional Inclusive Economic Growth,” hosted by the University and the Greater Washington Partnership (GWP) on Monday, September 9. The event, held at Howard’s new innovative mixed-use development, The Oliver, included a fireside chat with Howard University President Ben Vinson III, Ph.D., and GWP’s CEO Kathy Hollinger, networking opportunities for local business leaders; remarks from Tony Pierce, Akin DC Partner in Charge and Robby Moser, CEO, Clark Construction Group; and taped remarks from DC Deputy Mayor for Planning and Economic Development Nina Albert.

The findings, which tell the story of Howard’s 157-year commitment to strategic investment and service to its community, show that Howard’s economic impact in the District alone totaled $1.154 billion in 2019. That year, the University’s student body population, comprised of nearly 13,500 students, spent over $25 million on retail consumer services, entertainment, dining, and other convenience goods. The University made payments totaling over $500 million to more than 2,300 vendors in fiscal year 2024, including more than $235 million paid to local vendors. In addition, the University and Howard University Hospital current workforce[AD1]  was comprised of nearly five thousand employees, with a payroll of $395 million.

“In addition to thought and cultural leadership, Howard University has long been an engine of economic equity in the District of Columbia and the surrounding Washington metropolitan area,” said Howard University President Ben Vinson III, Ph.D. “These economic impact findings are just the latest example of the concrete, measurable, and uplifting impact that Howard has on our surrounding community and HBCUs have on our society. As we grow our community and attract more research investment, Howard will continue to be positioned as a matchless force of intellectual and economic energy that powers one of the world’s most important cities.”

Other findings include Howard’s goals and successes through its Real Estate Strategy, which is creating nearly 250 units of affordable housing; developing nine off-campus commercial mixed-use projects, four of which have been completed or are near completion; and investing over $1.3 billion in commercial mixed-use projects. Projections also detail that Howard’s direct and indirect spending will generate a total impact of $2.5 billion on the D.C. economy and $3.4 billion in total benefits to the Washington Metropolitan area.

“Since its founding in 1867, Howard University has served as one of the greatest educational, cultural and economic assets in our region,” said Kathy Hollinger, CEO of the Greater Washington Partnership. “Howard’s impact in the Greater Washington area is undeniable. It is a true testament of how historically Black colleges and universities are critical economic engines by creating and sustaining jobs, spending locally, and investing in projects that cycle money back into the community.”

All findings are available for view and download on Howard’s website.

Media contact only:

Lydia Sermons, Vice President and Chief Communications Officer
Cell phone: (202) 803-3501
mediarelations@howard.edu

Cedric Mobley, Assistant Vice President for Strategic Communications, 
Media Relations, and Editorial Services
Cell phone: (202) 368-3392
mediarelations@howard.edu