Lawrence Technological University (LTU) has a significant economic impact on Southfield, Oakland County and the Metro Detroit region! This impact ranges from direct expenditures, including those from faculty, staff and students, to impacts from alumni businesses and jobs created. As an example, LTU injected $410 million into the region during FY 2022 compared to $377M in FY 2020. This is approximately five times LTU’s expenditures. More typical university economic impact ratios range between two- and three-times their expenditures. LTU provides many economic benefits to the area and quantifies these annually.
According to LTU President Tarek M. Sobh: “This study shows that Lawrence Tech is not just a top-ranked institution of higher education, producing groundbreaking research and turning students into the leaders of tomorrow—LTU is also an important economic engine helping drive the city of Southfield, Oakland County, metro Detroit, and all of Michigan toward a successful future in the industries of tomorrow.”
Key Findings from July 1, 2021 to June 30, 2022 include:
.svg)
.svg)
.svg)
.svg)
.svg)
.svg)