Innovation and regional competitiveness increasingly depend upon commitment by major research universities like Tulane to help spark development. Universities such as Tulane are a source of both discoveries that can be commercialized and of the entrepreneurial talent that translate intellectual property into startup ventures. These activities spur innovation and attract outside investment and interest in the region in the form of research funding, venture capital, and new businesses, creating a virtuous cycle of growth. Tulane is an innovator; it is an active participant in collaborations throughout the region. The intensity of educational assets, human capital, research, and discovery both within Tulane and across neighboring institutions means that New Orleans has increasingly become a hub of innovation, even being named the third best city for young entrepreneurs, according to a 2018 study conducted by LendingTree. Tulane’s role as a force for good at local, regional, and global scales starts with providing educational resources to a diverse community of students. Access and affordability are central to the University achieving this mission and creating a transformative experience for students who ultimately do good within the New Orleans region and beyond. The University is a large part of the New Orleans economy, with a deep commitment to investing in local economic opportunities and encouraging student and visitor spending among local establishments. Tulane’s investment in the community reflects an understanding of its economic footprint as a mechanism for inclusive growth throughout the regional economy. Therefore, in addition to being a major anchor institution of New Orleans that employs local residents, Tulane contributes to the region by engaging with local merchants through procurement opportunities. The University’s presence in New Orleans yields a localized economic impact, as employees spend earnings locally and as goods and services procured by Tulane represent additional economic activity and employment for vendors. For more information on Tulane's economic impact, visit the Annual Economic Impact Page.
The futures of Tulane University and New Orleans have been intertwined since the founding of Tulane in 1834, when a group of doctors came together to battle yellow fever and “to lead the advancement of science and the rational treatment of disease.” Another calamity, Hurricane Katrina in 2005, forged an even stronger relationship between Tulane and its home city, as a culture of public service inspired the university’s students, staff and faculty to reach out to the city’s neighborhoods, schools and citizens. That partnership between the city and its anchor institution, a national research university, enhances the well-being and growth of the Crescent City, even as new generations of Tulane students and employees are drawn here to study, teach and perform research.