There is widespread recognition within the academic community of the need to inform various constituencies of the economic value that colleges and universities convey to their host communities. This report examines data from the National Center for Education Statistics and U.S. Bureau of Labor Statistics to determine the short-term economic impact of Historically Black Colleges and Universities (HBCUs) on their regional economies. The economic impact analysis results help to document the economic roles that HBCUs play in their communities. The economic impact estimates are based on regional input-output models of each HBCU's regional economy. The IMPLAN (Impact Analysis for Planning) Professional Version 2.0 modeling system, developed by the Minnesota IMPLAN Group, Inc. (2003), was applied to the Integrated Postsecondary Education Data System (IPEDS) and Consumer Expenditure Survey data to calculate the economic impact of HBCUs within their region. IMPLAN was used to calculate four indicators of impact--total output, total value added, total labor income, and total employment--for each category of initial spending. In addition to providing impact results for calendar year 2001, the report includes templates that can easily be used to provide impact results for subsequent years as data are made available. Some of the major findings from the analysis include: (1) The combined initial spending of all 101 HBCUs in their host communities totaled $6.6 billion--Public HBCUs accounted for 62 percent of this total amount while not-for-profit HBCUs accounted for the remaining 38 percent; (2) The 101 HBCUs collectively generated a value-added (or gross regional product) impact of $6 billion in 2001; and (3) Public 4-year HBCUs generated 105,482 jobs while public 2-year institutions generated 9,353 jobs--Among private, not-for-profit HBCUs, 4-year institutions generated 64,785 jobs while 2-year institutions generated 522 jobs. Appended are: (1) Tables; (2) A Template for Public HBCUs; (3) A Template for Not-for-Profit HBCUs; (4) Template Multipliers; and (5) Regional Economies Affected by HBCUs. (Contains 8 tables and 2 figures.)