(Lincoln, NE) -- A report finds the University of Nebraska System had an annual economic impact of $6.4 billion – a $600 million increase over the past three years.
Paul Umbach, founder and president of the firm Tripp Umbach, shared preliminary findings of the report during the Board of Regents’ December meeting in Lincoln. A full version of the report will be shared in early 2025.
Among the contributions of the NU System to the Nebraska economy:
- For every $1 invested by the State of Nebraska in the NU System, $10 is returned to the state’s economy.
- When NU’s impact is combined with that of Nebraska Medicine, the total economic impact rises to $11.9 billion – a $1.6 billion increase since 2021.
- The NU System supports 52,335 jobs statewide, up from 47,342 in 2021. This equates to one in every 20 jobs in Nebraska being directly or indirectly tied to the university.
“The University of Nebraska is a powerhouse for our state’s economic growth and competitiveness,” said NU System President Jeffrey P. Gold, M.D. “The return on investment for Nebraskans is clear: The University of Nebraska creates opportunities, fuels innovation and creates ripples that positively impact communities and people all across the state.”
The report finds the NU System’s research enterprise has been a significant contributor to its economic growth, with federal research awards increasing by 20% over the past two years, from $253.1 million to $304 million. Much of NU’s research addresses issues critical to Nebraska, such as national defense, medicine, advancements in agriculture and development of bioproducts. By 2030, impact of NU research is projected to exceed $1 billion.
Umbach says while NU has seen broad and steady economic growth, many other institutions of higher education have flatlined or even contracted in their economic impact since 2020.