Birmingham-Southern College Offers Thanks to Birmingham Business Alliance for Strong Support

For Immediate Release
Feb. 20, 2023

When the Birmingham Business Alliance (BBA) unveiled its objectives for the upcoming session of the Alabama Legislature, among them was a strong endorsement for the State to provide bridge funding for Birmingham-Southern College.

The BBA, which serves as the economic development agency for the Greater Birmingham Region as well as the local chamber of commerce for the city of Birmingham, included this statement among its legislative objectives:

BBA is acutely aware of the position that Birmingham-Southern College (BSC) holds in nurturing and educating our future leaders. The BBA wholeheartedly supports BSC in its efforts to seek funding from the State Legislature and other fundraising efforts the institution is initiating. We understand the significance of BSC, and should the institution be forced to close, it will be a loss to not only the City of Birmingham but to the entire State.

Birmingham-Southern President Daniel Coleman said BSC appreciates the strong support.

“We are grateful to the Birmingham Business Alliance for recognizing our importance to the State economy and for including bridge funding for BSC among its goals for the session, which begins March 7. Helping BSC gain financial resilience is an investment that will pay rich dividends to our City, County, and the entire State of Alabama,” President Coleman said.

A recent study by M. Keivan Deravi, Ph.D. of Economic Research Services, Inc. found BSC has a direct economic impact of $97.2 million each year on the State’s economy. The study reveals the amount BSC is seeking in public funding is less than half (39%) of its direct annual economic impact in 2022.

“Dr. Deravi’s study validates the fact that a $37.5 million investment by the public sector can return nearly a billion dollars in direct impact to our state’s economy over the next decade. That’s a great deal for city, county, and state taxpayers,” President Coleman said.

BSC seeks $12.5 million from the American Rescue Plan Act for which the College qualifies, based on guidance from the U.S. Department of Treasury and $17.5 million from the State of Alabama Education Trust Fund. The funding will give BSC time to raise the remainder of a $200 million endowment by May 2026. The College has already received contractual commitments for about $46 million toward its endowment goal.