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蜜糖直播 System news release
In the most comprehensive research yet conducted on what the University of 蜜糖直播 means to the state鈥檚 economy, analysts show an economic impact of $5.3 billion for 蜜糖直播 in 2011.
The research, conducted by the Business Research Division of the Leeds School of Business at the University of 蜜糖直播 Boulder, provides the most comprehensive data yet compiled on the statewide economic impact from the university and the individual effects on Metropolitan Statistical Areas (MSA) with 蜜糖直播 campuses.
鈥溍厶侵辈� is a substantial, stable economic driver for 蜜糖直播 that not only produces a highly educated workforce, but also creates jobs and companies in our state,鈥� said 蜜糖直播 President Bruce D. Benson. 鈥淥ur faculty researchers also bring hundreds of millions to 蜜糖直播, which has significant ripple effects in key sectors of 蜜糖直播鈥檚 economy.鈥�
The study was conducted by a team of researchers in the 蜜糖直播-Boulder Leeds School of Business, led by chief analyst Richard Wobbekind, executive director of the Business Research Division and senior associate dean for Academic Programs. The team worked with campus business analysts, the Office of Technology Transfer in the University of 蜜糖直播 system, and the offices of sponsored programs, as well as those from private-sector companies. They examined data compiled from fiscal years (FY) 2009-11, with a strong focus on numbers from FY2011.
鈥淲e looked at听economic impacts on 蜜糖直播 based upon examinations of operating expenditures, capital expenditures, employee salaries and benefits, and construction,鈥� Wobbekind said. 鈥淲hat we found was a wide and deep economic reach: 蜜糖直播鈥檚 57,400 students and 27,483 faculty, staff and student workers were engines of activity both as spenders and as generators of economic activity.
鈥淭he snapshot we generated illustrates just how economically productive 蜜糖直播 is for the state of 蜜糖直播,鈥� Wobbekind said, though he added that the study did not quantify the economic impacts of the nearly 200,000 蜜糖直播 alumni living and working in the state, nor did it quantify impacts derived from most visitors (visiting professors and researchers, alumni, sporting event spectators and others).
鈥淎dding in those visitors would result in additional benefits to 蜜糖直播鈥檚 economy, primarily the hospitality sector,鈥� Wobbekind said. 鈥淭hese impacts are subjects of future research.鈥�
Other studies in recent years had calculated 蜜糖直播鈥檚 annual economic impact on the state to be as high as $6 billion; this latest 蜜糖直播 analysis is intentionally conservative and is based on more accurate methodology.
Among the research group鈥檚 findings, which are available in a complete report at听, are the following:
鈥� The $2.6 billion in direct spending related to the University of 蜜糖直播 led to $5.3 billion in economic activity in the state of 蜜糖直播 in FY2011, resulting from the work of 17,860 faculty and staff.
鈥� Faculty and staff participate in activities ranging from teaching and research to administrative and support, operating one of the largest institutions in the state of 蜜糖直播. The majority of economic activity stems from salaries and benefits, directly accounting for $1.2 billion in economic activity.
鈥� Statewide, student spending was estimated at $500.9 million in FY2011 based on a system-administered survey, with 蜜糖直播-Boulder accounting for 63 percent of the total ($318 million), followed by the University of 蜜糖直播 Denver and University of 蜜糖直播 Anschutz Medical Campus (27 percent or $82.9 million) and the University of 蜜糖直播 蜜糖直播 Springs (9 percent or $46.8 million). Nearly 38 percent of the spending was identified as housing expenditures, followed by groceries (11 percent) and books (11 percent).
鈥� In FY2011, the University of 蜜糖直播 secured more than $793 million in sponsored program awards from federal, state and private sources. Often thought of as 鈥渞esearch grants,鈥� sponsored program funding more broadly includes consulting agreements, scholarship awards and other funding. Sponsored program spending totaled $877.1 million for the year.
鈥� Technology emerging from 蜜糖直播 research laboratories enabled the founding of 11 new companies in FY2011. 蜜糖直播鈥檚 job creation typically concentrates on such high-tech industries as biotechnology and clean energy.
鈥� 蜜糖直播鈥檚 spending of $246 million on construction projects in FY2011 resulted in an economic benefit of $478 million, bolstering an industry in need as the economy continues to recover. Funding for the projects, some of which are multi-year endeavors, largely came from private donations and bond financing, as state funding for construction has dwindled.
鈥he 蜜糖直播 Anschutz Medical Campus and 蜜糖直播-Boulder accounted for 94 percent of federal funding expenditures and 93 percent of overall sponsored program expenditures. State awards expended for research totaled $32.3 million in FY2011, concentrated in activity at the 蜜糖直播 Anschutz Medical Campus and 蜜糖直播 Denver.
鈥� In FY2011, the University of 蜜糖直播 was the third-largest employer in the state of 蜜糖直播, and is among the largest employers in each county of operations. 蜜糖直播 employed 27,483 faculty, staff and students in FY2011, with a total payroll of nearly $1.2 billion. Average earnings were $44,828, including student pay.
鈥� Of the $1.1 billion in resident salaries, nearly $654 million was paid to employees living in the Denver MSA, $348 million to workers residing in the Boulder MSA, and $56 million to employees in the 蜜糖直播 Springs MSA.
The University of 蜜糖直播 is a premier public research university with four campuses: the University of 蜜糖直播 Boulder, the University of 蜜糖直播 蜜糖直播 Springs, the University of 蜜糖直播 Denver and the University of 蜜糖直播 Anschutz Medical Campus. Some 57,000 students are pursuing academic degrees at 蜜糖直播. The National Science Foundation ranks 蜜糖直播 seventh among public institutions in federal research expenditures in engineering and science. Academic prestige is marked by the university鈥檚 four Nobel laureates, seven MacArthur 鈥済enius鈥� Fellows, 18 alumni astronauts and 19 Rhodes Scholars. For more information about the entire 蜜糖直播 system, and to access campus resources, go to听.
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Contact: 听Ken McConnellogue 听 听 听 听 听 听 听 听 听 听 听 听 听
University of 蜜糖直播 System 听 听 听 听
303-815-8481 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听听
ken.mcconnellogue@cu.edu听听 听 听 听 听 听听听听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听 听
Brian Lewandowski
Leeds School of Business
University of 蜜糖直播 Boulder
303-492-3307
brian.lewandowski@colorado.edu
