Mizzou’s Jesse Hall illuminated for St. Patrick’s Day 2022
The University of Missouri in Columbia generated $5 billion dollars for the state’s economy, according to a new study.
The company behind the impact study also shows MU provides nearly 50,000 direct and indirect jobs and those employees contributed close to $300 million in local and state taxes.
UM System’s Chief Engagement Officer Marshall Stewart says the numbers are Mizzou’s impact in Missouri alone, not counting around the nation and world.
Overall highlights of the MU study by the consultancy firm Tripp Umbach include: $5 billion generated in economic impact by MU, 49,937 direct and indirect jobs, both full-time and part-time, $281.8 million generated in state and local taxes, $988.8 million economic impact generated by MU’s research enterprise, $2.1 billion generated in economic impact by MU Health Care and academic medicine and $319.1 million generated in economic impact by MU Athletics.
According to the university, date for the study include: UM System info, including capital expenditures, operational expenditures, employee figures, payroll and benefits, taxes paid to local and state governments, visitation numbers for campus events, student figures, and proportions of students who live on and off campus to accurately measure their spending in the local area. Values in the report are generated by direct, indirect and induced operational spending, capital spending, payroll, visitor spending and student spending throughout Missouri.