Virginia Tech generated $4.7 billion in statewide economic impact in fiscal year 2025, supporting 35,519 full-time equivalent jobs and producing $316.9 million in tax revenue, according to a new report commissioned by the Virginia Tech Foundation.
President Tim Sands highlighted the findings during his annual State of the University Address on Wednesday, describing Virginia Tech’s expanding role in strengthening communities across the commonwealth.
“This analysis demonstrates that our investments in education, research, and outreach translate into jobs, tax revenue, innovation, and long-term prosperity for Virginia,” he said. “We are delivering on our responsibility to generate impact and to ensure that our work strengthens the communities we call home.”
Of the $4.7 billion statewide total, the university directly contributes $1.6 billion in economic impact through salaries, capital projects, and research. An additional $3.1 billion represents indirect and induced economic activity generated from university-related spending that circulated through businesses and households across Virginia.
The study found that for every dollar the commonwealth invests in Virginia Tech, the university creates $10 in economic impact to communities across Virginia.
In total, one in every 120 jobs in the commonwealth is either directly provided by Virginia Tech or supported because of its presence. In fiscal year 2025, that included 12,249 direct full-time equivalent jobs — based on full-time equivalent faculty, staff, researchers, and student workers — and an additional 23,270 indirect full-time equivalent jobs supported through university-related spending across industries.
Beyond the commonwealth, Virginia Tech generated an estimated $1.7 billion in additional economic impact nationwide, bringing its total economic impact to $6.4 billion which supports 48,978 full-time equivalent jobs across the United States.
The report, conducted by Tripp Umbach, a national consulting firm specializing in economic and community development, measures impact across Virginia Tech’s campuses and initiatives throughout the commonwealth. It illustrates Virginia Tech’s wide reach and influence, aligning with Sands’ broader vision for an innovation network that connects the university’s campuses, institutes, and outreach programs statewide.
Statewide and regional impact
Blacksburg campus: $3.4 billion in statewide economic impact and 25,629 full-time equivalent jobs. This includes more than 9,100 direct employees and more than 16,500 additional full-time equivalent jobs supported by university-related economic activity, reflecting the university’s broad role as an employer, research hub, and driver of regional commerce. And through employment, spending, and related tax revenue, most of this economic impact remains in the surrounding region.
Roanoke region: $475.7 million in statewide economic impact and 3,628 full-time equivalent jobs were created through the biomedical corridor in Roanoke, including the Virginia Tech Carilion School of Medicine and the Fralin Biomedical Research Institute at VTC. In his 2018 State of the University Address, Sands cited a Weldon Cooper Center projection that expansion of the Fralin Biomedical Research Institute would generate $465 million annually by 2026. The new study shows that the impact was exceeded ahead of schedule.
Virginia Tech in the greater Washington, D.C., area: $220.5 million in statewide economic impact and 1,682 full-time equivalent jobs, reflecting the university’s growing footprint in advanced computing, artificial intelligence, cybersecurity, and national security research. The impact includes programs within the new academic building in Alexandria that was built as part of the commonwealth’s successful effort to attract Amazon’s HQ2 to the region.
Research drives investment
Virginia Tech’s research enterprise generated $1.1 billion in economic impact, according to the findings, supporting 9,606 full-time equivalent jobs and producing $60.7 million in state and local tax revenue.
That total includes $519.5 million in direct impact from university research operations and an additional $580.6 million in indirect and induced economic activity across the commonwealth. The study found that research activity directly supported 5,111 full-time equivalent jobs, with another 4,495 full-time equivalent jobs sustained through related economic effects.
Athletics fuels economy
Virginia Tech Athletics generated $479.5 million in economic impact in fiscal year 2025, supporting 4,372 full-time equivalent jobs and producing $35.6 million in state and local tax revenue.
Each year, more than 500,000 visitors travel to Blacksburg for athletic events, driving tourism, hospitality, retail, and service-sector activity in the New River Valley. Football weekends attract thousands of fans to the region, strengthening the economy while expanding the university’s national visibility.
Alumni make impact
In addition to university operations, research, and athletics, the report examined the economic contributions of Virginia Tech alumni living in the commonwealth. Approximately 163,000 alumni reside in Virginia. In fiscal year 2025, those alumni had estimated earnings of $9.2 billion, benefiting the state beyond the $4.7 billion annual impact of the university.
Tripp Umbach has completed more than 500 economic impact studies for colleges and universities. The firm used institutional financial data and input-output economic modeling to measure the university’s direct, indirect, and induced effects from July 1, 2024, to June 30, 2025. The full economic report is available online.
By Michael Stowe
