A new economic impact report demonstrates how Raleigh’s three private colleges and universities — William Peace University, Meredith College, and Shaw University — strengthen the Research Triangle region. Titled Anchors of Opportunity: How Peace, Shaw and Meredith Strengthen Our Economy, Workforce, and Community, the collaborative study finds that these institutions serve as vital employers, support household incomes, attract and retain talent, and contribute significantly to the region’s civic and cultural vitality.
The project was envisioned by Dr. Lynn Morton, former president of Peace, who brought the three institutions together to quantify their collective impact. The schools partnered with Economic Leadership, a North Carolina-based research firm, to produce the report, with funding provided by the A.J. Fletcher Foundation.
The analysis focused on five primary categories: payroll impacts, construction spending, student spending, visitor spending, and graduates’ contributions. Collectively, the report found that the three institutions generate more than $1.1 billion in sales and support nearly $200 million in earnings for Triangle residents.
“I am enormously proud to see Peace’s impact documented alongside Shaw University and Meredith College,” President Jennifer Walsh said. “In 2025 alone, our three institutions generated an estimated $538 million in regional GDP and supported approximately 3,200 resident jobs. Those figures demonstrate that small, private universities can have an outsized benefit to the region.”
Leading the Research
Following the 2024-25 academic year, Peace spearheaded the data collection process. Meghan-Joy Woodall, director of institutional effectiveness and academic projects, led the effort to aggregate and align data across the three institutions.
“We had this initiative to pull together these three Raleigh institutions that have a strong history of serving underserved populations to discover what our combined impact is,” she said. “During the process, I took the lead to ensure we were all treating the data the same way and using the same terminology. I wanted to be sure we were on the same page about what we’re looking for, and I think it turned out to be a really positive and helpful report.”
Beyond the numbers, Woodall encouraged the team to include qualitative factors that define the institutions’ regional relevance. By pairing economic output with the cultural and social impacts unique to small colleges, the report provides a comprehensive look at the value of the Peace experience.
“We’re not just focused on filling seats — our students complete internships, earn top evaluations from their supervisors, and volunteer,” Woodall said. “At Peace, they learn to be responsible citizens through their courses and develop transferable skills for their careers and lives. This demonstrates our commitment to the overall quality of our graduates rather than to quantity.”
President Walsh echoed the sentiment that Peace’s value extends far beyond monetary factors.
“Although Peace serves as a clear economic driver for the region, our contribution cannot be measured in dollars alone,” she said. “We expand access to higher education for several hundred learners each year, and nearly half of our students are the first in their families to attend college. We also connect students with local employers through required internships, contribute service hours to community-based organizations, bring people downtown for athletic, cultural, and community events, and prepare graduates to lead and serve. As one of Raleigh’s historic institutions, Peace provides something less tangible but equally important: a sense of place, continuity, and community in the heart of a rapidly growing city.”
A Staple in the Region
The economic impact report positions Peace as a staple of the Raleigh and broader Triangle communities, providing economic value and top graduates to fill local jobs. Research supports the view that the continued presence of Peace, Shaw, and Meredith remains integral to workforce development, regional identity, and long-term economic growth.
“Universities like Peace are anchor institutions,” President Walsh said. “We employ residents, purchase goods and services from local retailers, invest in our campuses, attract students and visitors, and support surrounding businesses. The report found that last year, Peace alone provided 291 payroll jobs and more than $9 million in wages for Triangle residents. Our most enduring contribution, however, is the talent we develop. Peace graduates become educators, entrepreneurs, nonprofit leaders, business professionals, and engaged citizens who will strengthen North Carolina’s economy for decades to come.”
