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» » Study: NU had a $5.8B impact on state's economy last year - Lincoln Journal Star

Study: NU had a $5.8B impact on state's economy last year - Lincoln Journal Star

The University of Nebraska generated an estimated $5.8 billion in economic activity for Nebraska in 2021, according to a study commissioned by the university.

The analysis by Tripp Umbach found NU's economic impact rose from $4.5 billion in 2018, the last time a study was conducted. The Kansas City-based firm estimated NU's economic impact was $3.9 billion in 2015.

Paul Umbach, founder and president of the consulting firm that has studied the economic impact of more than 500 colleges and universities, presented the findings to the NU Board of Regents on Friday.

The study considers direct expenditures made by NU faculty, staff, students and visitors at local businesses, as well as indirect or induced spending — the economic activity generated by employees of those businesses.

In all, the report found, NU's total direct impact on the economy in the 2020-21 school year was $3.1 billion.

That includes $1.7 billion in direct spending from the university system; $695 million from students; $453 million from athletics; $141 million from visitors; and $84.5 million from medical residents.

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Downstream from NU’s direct spending, indirect spending was measured at $1.2 billion in 2020-21, while induced spending topped $1.5 billion, the report states.

NU’s economic activity created and maintained more than 47,000 jobs in the state — about 1 in 27 Nebraskans are employed directly or indirectly by the university.

Those individuals paid an estimated $385 million in state and local tax revenue, Umbach said. State support for the university will reach $628.5 million this year.

“A big share of what you receive you give back directly,” Umbach told regents, adding the university system generates $9 in economic activity for every $1 it receives in state support.

NU President Ted Carter said the report "is the latest confirmation that the University of Nebraska is one of the largest drivers of economic and individual growth in our state.

"The numbers alone are powerful, demonstrating the remarkable return we provide on Nebraskans' investment," Carter said in a statement.

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When considering the education, research and outreach done by NU, Carter added "it's clear that the state of Nebraska cannot prosper without its public university."

The University of Nebraska-Lincoln's impact on the state's economy reached $2.9 billion in 2021, according to the analysis, including $1.5 billion in direct spending.

UNL, which has a presence in all 93 counties in the state, also supported more than 23,000 jobs and generated $77 million in state and local tax revenue.

Umbach said the positive impact of NU's economic activity was also felt widely.

Across 16 counties in Southeast Nebraska, including Lancaster County, NU generated nearly $1.7 billion in economic activity.

NU had a $2.4 billion impact on the Omaha metro area, and generated $470.5 million in economic activity in central Nebraska; $394 million in northeast Nebraska; and $279 million in western Nebraska.

"It's not just working where you have university campuses," Umbach said. "It's working in every region of the state and every community of the state."

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Sen. John Stinner of Gering, who chairs the Legislature's Appropriations Committee, called the return on investment "an impressive result for Nebraska taxpayers."

"These findings demonstrate that the University of Nebraska has been able to turn Nebraskans’ investment into impact that extends to every corner of the state — rural and urban alike, from my district in western Nebraska all the way east," Stinner said in a statement.

Sen. Lynne Walz of Fremont, chairwoman of the Education Committee, said "investment in higher education pays off big-time for the state of Nebraska.

"Not only does the University of Nebraska 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," she said.

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Reach the writer at 402-473-7120 or cdunker@journalstar.com.

On Twitter @ChrisDunkerLJS

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Study: NU had a $5.8B impact on state's economy last year - Lincoln Journal Star
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