WACO, Texas – The economic impact of the Baylor University athletics program within the Waco community has more than doubled over the last five years, increasing from $155.6 million in 2007-08 to $373.3 million during 2012-13 academic year according to a recent study released Thursday.
"The competitive and financial prosperity of Baylor Athletics has contributed significantly to the Central Texas economy and has further strengthened the bond between the University and local community," said Baylor Director of Athletics Ian McCaw. "Clearly, Baylor's capital projects and athletics events attract business opportunities and visitors to our City which in turn provide stimulus to the Central Texas economy."
Conducted with the assistance of Dr. Ray Perryman, the economic impact study was simulated through the US Multi-Regional Impact Assessment System using the sub-model for the Waco area. The study examined the impact of Athletics camps/clinics, attendance at Baylor Athletics events, attendance/usage of Baylor Athletics facilities for outside events, Baylor Athletics operational spending, and Baylor Athletics capital spending.
The two greatest sources of the program's impact on the local economy came from operational expenses ($176.7 million) and capital spending ($138.1 million). Attendance at BU athletic events ranked third ($48.1 million), followed by athletic facilities usage ($5.4 million) and individual sports camps ($4.8 million) conducted by Baylor coaches in 10 sports. In turn, these monies have helped create an estimated 2,200 Central Texas jobs, 772 of which can be attributed to capital projects including Baylor Stadium.
The economic impact of Baylor Athletics within Central Texas has steadily increased from $101.3 million in 2003, the first time a study was conducted, to $155.6 million in 2008 and the most-recent mark of $373.3 million for 2012-13. Since 2003, Baylor has enjoyed its most competitively successful period in the history of its intercollegiate athletics program. During that span, Baylor has captured three NCAA team championships, 42 Big 12 Conference titles in eight different sports and its first bowl victories in 20 years.
"We are grateful for the Baylor spirit and strong support that is provided by our local fans, the Waco business community and our passionate alumni," McCaw said. "Baylor Nation has never been so active and engaged."
Baylor Athletics Economic Impact To Central Texas (2003-13)
Camps Attendance Facilities Use Operational Spending Capital Spending Total Impact
2003 $1.6m $28.3m $11.9m $54.7m $4.8m $101.3m
2008 $2.0m $36.7m $7.0m $83.6m $26.2m $155.6m
2013 $4.8m $48.2m $5.5m $176.7m $138.1m $373.3m