In this time of significant budget challenges, the University is increasingly asked to demonstrate the value it brings to the state and its taxpayers. An economic impact study, the results of which are being released today, now provides hard data to substantiate the pivotal role that the University plays in the economic health of the state and region. The study's findings are significant:
- The U of M creates $8.6 billion in total economic impact in Minnesota annually.
- Every dollar invested in the U of M by the state generates $13.20 in the statewide economy.
- A total of 79,497 jobs are supported by the U of M: 42,319 jobs on our campuses--including 19,157 faculty and staff positions; 8,866 fellows and student employees; 8,017 positions through the University of Minnesota Medical Center, Fairview,
- and University of Minnesota Physicians; and 6,279 graduate assistants,
- postdocs, and residents--as well as another 37,178 in communities across
- the state through U of M spending.
- One out of every 43 jobs in the state of Minnesota is attributable to the U of M.
- Research expenditures from competitively awarded funds generate $1.5 billion in total annual economic impact in Minnesota and support 16,193 total jobs, both inside
- and outside the U of M.