By Scout Nelson
A recent economic development report highlights the significant role a flagship university plays in boosting a state’s economy. Findings from the report, compiled by a national consulting firm, reveal the institution’s substantial financial impact, job creation, and research growth.
The university contributes approximately $3.1 billion annually to the state’s economy. This includes $1 billion in direct contributions and $2.1 billion in indirect and induced economic effects. Since 2021, this marks a $200 million increase, showcasing the institution’s vital role in economic development. University leaders emphasize the importance of education, research, and engagement in fostering long-term economic stability.
The university supports over 25,000 jobs across the state, significantly strengthening workforce stability. Operations in the 2024 fiscal year contributed to 15,530 direct jobs and 9,591 indirect or induced positions. Additionally, the institution generated $84 million in state and local tax revenue, helping fund essential public services.
The university accounts for nearly half of its statewide higher education system’s $6.4 billion economic impact. This includes over 52,000 jobs and $175 million in state tax contributions. The university’s athletic programs alone generated $459.3 million in 2024, supporting 3,266 jobs and contributing $12.6 million in tax revenue. Meanwhile, agricultural and community outreach initiatives added $132 million to the economy, supporting 1,848 jobs.
One in seven working-age individuals in the state holds a degree from the university system, with alumni generating an additional $3.5 billion in annual earnings. University-related jobs account for one in every 20 positions statewide. Furthermore, students, faculty, and staff collectively contribute over $38 million in charitable donations and $76 million in volunteer service each year.
Research funding has also reached record levels, with $194 million awarded in 2023. The university ranks among the world’s top institutions for securing U.S. patents and continues to gain recognition for its leading scientists.
Leaders emphasize that for every $1 invested in the university, $10 in economic activity is generated, demonstrating its critical role in the state’s future.
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Categories: Nebraska, Business