The University of Missouri in Columbia generated $5 billion for the state’s economy, according to a new study.
The company behind the impact study also shows that MU provides nearly 50,000 direct and indirect jobs and that those employees contribute nearly $300 million in local and state taxes.
Marshall Stewart, UM Systems’ chief engagement officer, says the numbers reflect Mizzou’s impact in Missouri alone, not across the country and around the world.
Overall highlights from the MU study by consulting firm Tripp Umbach include: $5 billion in economic impact from MU, 49,937 direct and indirect jobs, both full-time and part-time, $281.8 million in state and local taxes , $988.8 million in economic impact through MU’s research company, $2.1 billion in economic impact through MU Health Care and Academic Medicine, and $319.1 million in economic impact through MU Athletics.
According to the university, the data for the study includes: information about the UM system, including capital expenditures, operating expenses, employee counts, payroll and benefits, taxes paid to local and state governments, attendance at campus events, student numbers and proportion of students living on and off campus to accurately gauge their spending in the area. Values in the report are generated by direct, indirect, and induced operating expenses, capital expenses, payroll, visitor expenses, and student expenses across Missouri.
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