Columbia, Mo.鈥 91香蕉短视频 System leaders today announced the results of an economic impact study that found UM System and its four universities have a $6.5 billion economic impact on the state of Missouri. The study was conducted by Tripp Umbach, a nationally recognized firm that has completed more than 500 economic impact studies for clients across the globe.
鈥淓ach of our four universities in Columbia, Kansas City, Rolla and St. Louis have provided teaching, research, outreach and economic development excellence to Missourians for more than two centuries,鈥 UM President Mun Choi said. 鈥淲e are committed to enhancing the overall economic vitality of the state, and this study shows the 91香蕉短视频 System continues to deliver on its mission to the betterment of Missouri.鈥
For the study, Tripp Umbach measured the economic value generated by the UM System鈥檚 research, operations, service and expenditures throughout the state of Missouri in Fiscal Year 2021, which ran from July 1, 2020, to June 30, 2021. The impact analysis measured effects throughout the state and each of its four universities as well as MU Extension, academic medicine, research, athletics and alumni.
Results of the report include:
- $6.5 billion generated in economic impact by the UM System and its four universities, MU Extension, athletics and academic medicine
- More than 69,000 direct and indirect jobs, both full-time and part-time
- Approximately $366.5 million generated in state and local taxes
- $1.5 billion economic impact generated by the UM System research enterprise
- $2.4 billion generated in economic impact by UM System academic medicine
- $376.8 million generated in economic impact by athletics at the four UM universities
鈥淔or every state dollar invested in the 91香蕉短视频 System, Missouri taxpayers saw $15.49 in economic benefits in 2021,鈥 said Darryl Chatman, chair of UM Board of Curators. 鈥淚nvesting in our universities not only continues to produce tomorrow鈥檚 leaders, educate our workforce and engage in innovative research to solve some of our biggest challenges, it鈥檚 also a good investment in our state鈥檚 economy.鈥
Primary data for the study were collected from the UM System, including capital expenditures, operational expenditures, employee figures, payroll and benefits, taxes paid to local and state governments, visitation numbers for campus events, student figures, and proportions of students who live on and off campus to accurately measure their spending in the local area. Values in the report are generated by direct, indirect and induced operational spending, capital spending, payroll, visitor spending and student spending throughout Missouri.
鈥淢ore than half of our living alumni remain in Missouri after graduation and put their education to use in every sector of our state鈥檚 economy,鈥 said Todd Graves, Board of Curators member and chair of the Academic, Student Affairs, Research and Economic Development Committee. 鈥淥ne in 29 Missouri workers is a graduate of one of our four universities, and each enhances the economic strength of our state.鈥
鈥淭he impact our universities and statewide programs have on Missourians goes beyond economics,鈥 said Marshall Stewart, chief engagement officer for UM System and vice chancellor for Extension and Engagement at MU Extension. 鈥淥ur universities and their programs have a presence in every single Missouri county, serving the entire state to increase economic opportunity, increase educational access and promote the health and wellbeing of all Missourians.鈥
To view the complete report, visit: /about-us/economic_impact.
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