From Deseret News archives:
U. and USU pump up Utah economy
Report shows schools yielded a return of $1.58 billion to state
The University of Utah and Utah State University, combined, served more than 50,000 students, employed 25,429 and generated $2.1 billion in revenue for the year. Close to 30 percent of that revenue came from patient services activity at the U.'s various medical facilities.
The University of Utah's David Eccles School of Business' Bureau of Economic and Business Research, for the first time Monday, showed the U. Board of Trustees those and other numbers in a new report that details how the U. and USU impact the state's economy.
"It's a powerful report," said U. President Michael K. Young.
It's one he and U. trustees hope will compel various public and private funding sources to give more.
Past numbers on the subject of economic impact have been "dubious" at best, said bureau director Jim Wood. With at least four months of digging through data and spreadsheets from the U. and USU, the new report presents a "defensible" and "responsible" body of research, he said.
"I'm not sure the case has been made," Young said.
Making that case would be the means toward increased support from the Utah Legislature for the two state-funded schools.
One powerful fact might be that the state's appropriation of $351.9 million in fiscal year 2003 for the U. and USU yielded a return of $1.58 billion to the state. In other words, for every $1 million the state spent on the schools that year, they returned about $4.5 million to the state's economy.
The human impact, Young added, is enormous.
"The products being made are making people's lives better," he said.
In research alone, the two schools generated $413.9 million in mostly federal funding, spending $265.3 million in Utah during fiscal year 2003, during which more than 12,000 people were paid under research contracts.
Young said that most impressive in the "conservative" report is the information on jobs created and the return on research investments in the two institutions.
For every $1 million in research funding the U. and USU generated, for example, 39 jobs were created in Utah with $732,000 in income for those employees and $59,000 added to the state tax revenue pot.
Comments
- 3 dead in Reno helicopter crash 11:02 a.m.
- Galaxy headed to MLS Cup 10:45 a.m.
- Veteran climber dies in Himalayas 10:36 a.m.
- Slovakia beats U.S. 1-0 10:30 a.m.
- Suicide attack kills 11 in Pakistan 10:28 a.m.
- A president of Europe? 10:18 a.m.
- Riesch edges Vonn in WCup slalom 10:13 a.m.
- Woman killed in S.F. Canyon crash 10:07 a.m.
- Collie featured in Sports Illustrated 10:01 a.m.
- Obama: Put off Fort Hood probe 9:59 a.m.
- Williams leaves, won't play tonight
- Attack meant to kill apostle
- Short-handed Jazz fly past Sixers
- Can BYU root for (ick) Utah Utes?
- Man killed during 3rd I-15 crash
- Bench proves fruitful for Y.
- Trial begins in toddler death
- D-Will home for daughter
- Unga family is making its mark
- ESPN suddenly loves MWC
- SLC council OKs gay rights policies
348 - Editorial: Mormons and gay rights
199 - Senators want food tax restored
162 - Will state consider gay rights law?
145 - Letters: Strange breed in Utah
129 - Utes remain silent about BCS
120 - S.L. vote pending on gay protections
113 - Celtics crush Jazz
103 - Pratt pleads not guilty to sex charges
103 - Hatch empathizes with Muslims
89
If you are looking for a bird on the cheap, the following specials from...
How do you handle kids and contests? Our oldest daughter, 7, is of the...
A locked gate that a five year old can open is not secure enough for a dog...
"Tang's owner"? What's the individual's name? And how can a little boy...
What For ?
At first I thought this was going to deal with caring about the american...
Womens BB - LOSERS (yes) mens BB - LOSERS (yes)..... and going for the...
"ick" I hope not!
Sounds like a good game to watch. It was suppose to be on B2 TV but were not...
Well, this means that until the end of January, there will be little if any...
I laughed and laughed at this news. All four of my sisters live in the...
The sound of the train brakes as it pegs the odd car or pedestrian won't be a...


You can be the first to comment on this story.