The teaching, research and outreach activities of the University of Nebraska grow the state’s economy by $5.8 billion every year, according to an independent new analysis of the NU System’s impact on Nebraska’s prosperity and quality of life.
The analysis was unveiled Friday at the Board of Regents meeting. Tripp Umbach, a national consultant with expertise in economic impact studies, detailed the university’s impact by campus, region and legislative district. It shows that the NU System generates $9 for every $1 the state invests, a significant increase from the 7-to-1 return on investment the university created in 2019.
“That’s a 27.6 percent improvement,” NU System President Ted Carter says. “I think anybody who looks at their bank account or 401k would pretty happy with a 27.6 percent improvement.”
Carter says the fact that all four campuses grew their impact even while managing the challenges of COVID-19 is evidence of the vital role the university plays in maintaining the economic competitiveness and well-being of the state.
“This new analysis is the latest confirmation that the University of Nebraska is one of the largest drivers of economic and individual growth in our state,” Carter says.
As Nebraska faces an urgent workforce challenge of 50,000-plus open jobs, including critical openings in health care and STEM fields, Carter says an affordable, accessible, competitive public university will continue to be a key part of the solution.
Annual economic impacts by campus are as follows. Figures do not include Nebraska Medicine and its affiliates.
University of Nebraska-Lincoln: $2.9 billion
University of Nebraska Medical Center: $1.5 billion
University of Nebraska at Omaha: $898 million
University of Nebraska at Kearney: $365 million
Nebraska College of Technical Agriculture: $15 million
The full, detailed report from Tripp Umbach is available here