From its modest beginnings in 1908, James Madison University (JMU) has grown to become one of Virginia’s premier institutions of higher education and one of the nation’s top comprehensive universities. The university now enrolls over 21,000 students, with 3,745 full and part-time faculty and staff, and it has an annual operating budget of approximately $500 million.
At its current level of operations, James Madison University has a significant impact on the economies of the City of Harrisonburg, Rockingham County and the Commonwealth of Virginia. Dr. Terance Rephann with the Weldon Cooper Center for Public Service investigated that impact. This investigation was based on fiscal year 2015 spending for JMU operations and capital projects, summer 2014 through spring 2015 student spending, and calendar year 2015 compensation to employees.
Below are highlights taken from the economic impact report. The entire report can be viewed on JMU’s website.
JMU has been the fastest growing four-year public institution in the state over the last two decades. Enrollment grew 84 percent from Fall 1992 to Fall 2014, compared to an average 31 percent growth rate for all public four-year institutions.