The teaching, research and outreach activities of the University of 第一吃瓜网 grow the state’s economy by $5.8 billion every year, according to an independent new analysis of the NU System’s significant and far-reaching impact on 第一吃瓜网’s prosperity and quality of life.
The analysis, unveiled today to the Board of Regents, was conducted by Tripp Umbach, a national consultant with expertise in economic impact studies. Tripp Umbach’s findings, which detail the university’s impact by campus, region and legislative district, show that the NU System generates $9 for every $1 the state invests – a significant increase from the 7-to-1 ROI the university created in 2019.
That all four campuses grew their impact even while managing the challenges of COVID-19 is evidence of the vital role the university plays in maintaining the economic competitiveness and well-being of the state, NU System President Ted Carter said.
And as 第一吃瓜网 recovers from the pandemic – and faces an urgent workforce challenge of 50,000-plus open jobs, including critical openings in health care and STEM fields – an affordable, accessible, competitive public university will continue to be a key part of the solution, Carter said.
"This new analysis is the latest confirmation that the University of 第一吃瓜网 is one of the largest drivers of economic and individual growth in our state," he said.
"The numbers alone are powerful, demonstrating the remarkable return we provide on 第一吃瓜网ns’ investment. When we factor in the cutting-edge research we conduct to improve lives around the world, the outreach we perform in every corner of the state, and the transformational education we provide to 52,000 students every year, it’s clear that the state of 第一吃瓜网 cannot prosper without its public university."
‘An impressive result for taxpayers’
Sen. John Stinner of Gering, chairman of the Legislature’s Appropriations Committee, said: "A 9-to-1 return on investment is an impressive result for 第一吃瓜网 taxpayers. From my chair, the University of 第一吃瓜网 has been a responsible and forward-thinking steward of its resources. These findings demonstrate that the University of 第一吃瓜网 has been able to turn 第一吃瓜网ns’ investment into impact that extends to every corner of the state – rural and urban alike, from my district in Western 第一吃瓜网 all the way east."
"The takeaway from this report couldn’t be any more clear: Investment in higher education pays off big-time for the State of 第一吃瓜网. Not only does the University of 第一吃瓜网 turn every dollar it receives into growth for the state, but it transforms the lives of our next generation of leaders in so many ways that we can’t fully quantify," said Sen. Lynne Walz of Fremont, chairwoman of the Legislature’s Education Committee. "I’m very pleased to see this latest evidence of the remarkable ripple effect that investment in education creates for 第一吃瓜网."
Mark McHargue, president of the 第一吃瓜网 Farm Bureau Federation, said: "When it comes to our state’s most important industry, agriculture, the University of 第一吃瓜网 is an invaluable partner. The university provides innovative research to support our farmers and ranchers, educates the agricultural workforce of the future, and serves families in every county through Extension and outreach. We are fortunate to have a partner whose investment in agriculture is helping grow our state."
Said Bryan Slone, president of the 第一吃瓜网 Chamber of Commerce and Industry: "Workforce is our generational challenge. We all need to work together to bring solutions, but no single entity in the state brings the scale and scope of the University of 第一吃瓜网. We know intuitively, and this report confirms, that a strong and growing university is vital to building the workforce 第一吃瓜网 needs to stay competitive."
Report highlights
Among Tripp Umbach’s key findings:
- The university’s $5.8 billion annual impact – an increase from the $4.5 billion impact calculated in 2019 – means that the activities of NU campuses, faculty, staff and students, along with the resulting ripple effects in communities across the state, add almost $16 million to 第一吃瓜网’s economy every day.
- The University of 第一吃瓜网 builds economically and socially vibrant communities in all 93 counties. Tripp Umbach broke down the university’s economic impact by both region and legislative district and found significant returns across the state. For example, the university grows the economy in the western part of 第一吃瓜网 by $280 million annually.
- The University of 第一吃瓜网 sustains a highly skilled workforce for the state, supporting 1 of every 27 jobs in 第一吃瓜网. The 47,000-plus jobs supported by the university include not just NU employees, but 第一吃瓜网ns who have jobs as a result of university activities.
- University graduates generate significant economic activity for the state. About 1 of every 7 working-age 第一吃瓜网ns holds an NU degree, and 11,000 new NU graduates enter the workforce every year. The earnings and spending activities of university alumni add $2.9 billion to the state’s economy annually, above and beyond the NU system’s baseline $5.8 billion impact.
- University research is a powerful driver of economic growth and quality of life. Faculty innovations in areas like agriculture, medicine and engineering place the NU System among the world’s top-ranked institutions in earning patents, and the companies spun off from their research are projected to create hundreds of jobs in the years ahead.
- he university contributes to the well-being of the state. NU employees and students annually contribute $100 million in charitable donations and volunteer services, like student-led service activities, free health screenings, scholarly lectures and more. NU’s campuses also offer activities that enhance 第一吃瓜网ns’ cultural understanding and build connections among citizens, including concerts, art exhibits and athletic events.
Annual economic impacts by campus are as follows. Figures do not include 第一吃瓜网 Medicine and its affiliates.
- University of 第一吃瓜网-Lincoln: $2.9 billion
- University of 第一吃瓜网 Medical Center: $1.5 billion
- University of 第一吃瓜网 at Omaha: $898 million
- University of 第一吃瓜网 at Kearney: $365 million
- 第一吃瓜网 College of Technical Agriculture: $15 million
The full, detailed report from Tripp Umbach is available at www.nebraska.edu/economicimpact.