ASMSA has $104 million economic impact on Arkansas, new study reveals

The Arkansas School for Mathematics, Sciences, and the Arts recently completed an impact study that highlights the role this specialized public school plays in not only educating talented students but also spurring development throughout the state.

When ASMSA first enrolled students in 1993, the educational landscape was fundamentally different from what it is today. Legislation to establish charter schools was still a couple of years away. Advanced Placement and other college-level courses were not regularly available in small and rural districts. The public internet was still in its infancy, and distance education was limited to written correspondence courses. It’s incredible how both ASMSA and Arkansas education have evolved during that time, with changes accelerating even faster than anticipated thanks to the combination of the pandemic as well as a renewed legislative focus on parental empowerment.

As ASMSA prepares to enter its fourth decade of educational excellence later this year, the school’s leaders and stakeholders are embracing this milestone as an opportunity to reflect on both the economic and social impact of Arkansas’ investment in this unique community of learning. ASMSA is the state’s only public residential high school for talented and motivated
students. It’s also one of only 17 such programs across the United States. ASMSA is an intentional investment by the people of Arkansas in developing the potential of some of our most promising young adults.

In the five years from 2017 to 2021 studied in the impact report, students came to ASMSA from 68 of the state’s 75 counties. With invigorated discussions about school choice and existing “opportunity gaps” thanks to the recently passed LEARNS Act, we’re excited that ASMSA has long been a key example of a maximal approach to school choice in which students from all corners of Arkansas – regardless of race, income, or ZIP code – have access to quality educational programs. ASMSA’s residential capacity stands at 260 students today through a housing expansion completed last fall, and more than 3,300 students and teachers statewide will benefit from outreach, educator development, and digital learning opportunities this year alone.

Over the period reviewed, ASMSA had a total impact of $104.4 million across Arkansas and $98.4 million in Garland County. During that time, the state invested more than $47 million in the school’s operations. For every dollar of state support, ASMSA not only returned that initial investment but generated an extra $1.22 in impact. Moreover, the school creates an additional 68.4 percent return on investment in economic growth and development that wouldn’t exist without ASMSA’s presence.

The nearly 100 employees on campus help to support an additional 200 jobs statewide. During this period, the school also invested $9.4 million in capital projects that are directly related to not only a thriving campus but also a revitalized downtown Hot Springs. Between 2010 and 2024, ASMSA will have invested more than $35 million in the physical transformation of campus – the single largest set of capital investments in the community over that same period.

Education is widely recognized as a public good, meaning it provides benefits to society as a whole rather than just to individuals. Beyond our stewardship of the state’s investment, ASMSA fosters social mobility for rural and low-income students, increases economic productivity by preparing young leaders for innovative jobs, and promotes civic engagement through thousands of hours of service learning each year, among other positive outcomes highlighted in the report.

Upon graduation, more than 60% of students continue their undergraduate education in the state, preventing a “brain drain” that robs Arkansas of top talent. Even those who expand their horizons often return to Arkansas for graduate and professional schooling or to establish careers back in their home state. Currently, ASMSA alumni can be found serving as elected officials in the Arkansas General Assembly, executives in some of Arkansas’ top private companies, classroom teachers across the state, medical professionals in rural communities, and directors for regional and statewide nonprofits. Their contributions to communities large and small are the true return on investment.

Needless to say, education has changed significantly over the past 30 years. Through online learning, school choice, and novel partnerships, Arkansas students have more opportunities than ever before to learn through appropriate challenges and achieve at the highest levels.

ASMSA will continue to lead the way in this discussion while working to ignite the full potential of Arkansas’ students and educators. Because of the trust and support placed in ASMSA by the people of Arkansas, we can certainly do no less.

Editor’s note: Corey Alderdice is the director of Hot Springs-based Arkansas School for Mathematics, Sciences and the Arts, one of 17 public residential high schools in the country specializing in the education of academically gifted students. The opinions expressed are those of the author.