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The Economic and Societal Impact of the University of Minnesota (FY 09-10)

The Economic and Societal Impact of the University of Minnesota (FY 09-10). U of M’s Overall Economic Impact: $8.6 Billion Per Year. U of M is a Major Generator of Jobs. 79,497 jobs are supported by the U of M and Fairview 42,319 direct jobs Faculty and Staff - 19,157 jobs

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The Economic and Societal Impact of the University of Minnesota (FY 09-10)

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  1. The Economic and Societal Impact of the University of Minnesota(FY 09-10)

  2. U of M’s Overall Economic Impact: $8.6 Billion Per Year

  3. U of M is a Major Generatorof Jobs • 79,497 jobs are supported by the U of M and Fairview • 42,319 direct jobs • Faculty and Staff - 19,157 jobs • Graduate/Post-Doc/Residents – 6,279 jobs • Fellows and Students - 8,866 jobs • UMMC-Fairview/UMP - 8,017 jobs • 37,178 indirect and induced jobs • 1 in every 43 jobs in the state is attributable to the U of M.

  4. What is the U of M’s Return on Investment to the State? $1.00 in State Investment $13.20 is generated in the Statewide Economy

  5. U of M research expenditures from competitively awarded funding generate $1.5 billion in impact and support 16,193 jobs. U of M Research is a Key Economic Driver for the State

  6. The U of M educates the workforce that Minnesota needs to succeed in the 21st century. The 14,000 students who graduate every year from the U of M are essential to the state's human capital and workforce needs. The U of M awards 90% of all STEM doctoral degrees, 85% of all MD degrees, and 100% of all dentistry, pharmacy, and veterinary medicine degrees. The U of M is a talent magnet, attracting talented students in a wide range of disciplines—many of whom stay in MN upon graduation. Educating the Future Workforce

  7. According to alumni surveys conducted in 2004-2006: U of M alumni have formed nearly 10,000 companies in Minnesota. Nearly 25% of these company founders moved to Minnesota to attend the U of M. These companies employed approximately 500,000 people annually and generated some $100 billion in annual revenues in the state. U of M Alumni Play a Vital Role in Minnesota’s Economy

  8. Economic Impact of U of M Alumni • The U of M graduating class of 2010 will have an $8.9 billion impact on future increased earnings. This impact is above and beyond the impact of the University’s operations. Economic Impact of Earnings of U of M Alumni (in billions)

  9. The U of M educates children, citizens, future employees, leaders and innovators. The U of M makes the state of Minnesota a better place to live providing more than $204 million in community benefits, including: $4.9 Million in free care provided by UMMC-Fairview and UM Physicians $71.3 Million donated to local charitable organizations by U of M Faculty, Staff and Students Nearly $127.8 Million in value of volunteer time provided to area communities by U of M students, faculty and staff U of M is a Strong Community Partner

  10. $8.6 Billion in economic impact throughout the entire state The U of M has an impact in every economic development region of the state Campuses in Crookston, Duluth, Morris, Rochester, and the Twin Cities, Extension offices, Research and Outreach Centers, and other statewide resources are integral parts of the regional and state economy 79,497 jobs for Minnesota citizens throughout the state Over$13.00 returned to the state as a result of U of M operations for every $1.00 invested Why is This Important?

  11. $512.3 million in tax revenue generated for the State of Minnesota U of M Research funding generates $1.5 Billion in impact and supports 16,193 jobs The U of M graduating class of 2010 will have an $8.9 billion impact on future increased earnings – in addition to the operational impact $204 million in charitable giving as a result of staff, faculty and students Why is This Important? (cont’d)

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