Report: UNO Contributes Nearly $1 Billion to Nebraska Economy Annually | News

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The educating, analysis and outreach actions of the College of Nebraska at Omaha helps develop the state economic system by almost $1 billion yearly, in keeping with an impartial evaluation of the College of Nebraska System’s important and far-reaching influence on Nebraska’s prosperity and high quality of life.

The evaluation, unveiled Friday to the Board of Regents, confirmed that the NU System as a complete contributes $5.8 billion throughout every of its campuses. The findings, which element the college’s influence by campus, area, and legislative district, have been compiled by Tripp Umbach, a nationwide guide with experience in financial influence research.

The college system’s $5.8 billion annual influence – a rise from the $4.5 billion influence calculated in 2019 – signifies that the actions of NU campuses, school, employees and college students, together with the ensuing ripple results in communities throughout the state, add virtually $16 million to Nebraska’s economic system each day, producing $9 for each $1 the state invests.

That each one 4 campuses grew their influence even whereas managing the challenges of COVID-19 is proof of the very important function the college performs in sustaining the financial competitiveness and well-being of the state, NU System President Ted Carter mentioned.

And as Nebraska recovers from the pandemic – and faces an pressing workforce problem of fifty,000-plus open jobs, together with vital openings in well being care and STEM fields – an reasonably priced, accessible, aggressive public college will proceed to be a key a part of the answer, Carter mentioned.

“This new evaluation is the most recent affirmation that the College of Nebraska is likely one of the largest drivers of financial and particular person progress in our state,” he mentioned.

“The numbers alone are highly effective, demonstrating the exceptional return we offer on Nebraskans’ funding. After we issue within the cutting-edge analysis we conduct to enhance lives around the globe, the outreach we carry out in each nook of the state, and the transformational training we offer to 52,000 college students yearly, it’s clear that the state of Nebraska can not prosper with out its public college.”

As a campus, UNO contributed $898 million in 2021 by way of efforts corresponding to neighborhood service tasks, analysis grant funding, skilled improvement alternatives for companies throughout the state, and rather more.

“Whereas we will actually level, anecdotally, to the various wonderful methods our campus touches each a part of the state, this report helps us perceive how important and impactful the work we’re doing right here at UNO is,” UNO Chancellor Joanne Li, Ph.D., CFA, mentioned. “Nonetheless, there’s nonetheless rather more to be executed. As Nebraska’s city college, situated within the financial hub that’s Omaha, we now have a tremendous accountability to be that financial driving drive that lifts up our metropolis and

‘An Spectacular End result for Taxpayers’

Sen. John Stinner of Gering, chairman of the Legislature’s Appropriations Committee, mentioned: “A 9-to-1 return on funding is a formidable outcome for Nebraska taxpayers. From my chair, the College of Nebraska has been a accountable and forward-thinking steward of its assets. These findings display that the College of Nebraska has been in a position to flip Nebraskans’ funding into influence that extends to each nook of the state – rural and concrete alike, from my district in Western Nebraska all the best way east.”

“The takeaway from this report couldn’t be any extra clear: Funding in increased training pays off big-time for the State of Nebraska. Not solely does the College of Nebraska flip each greenback it receives into progress for the state, however it transforms the lives of our subsequent era of leaders in so many ways in which we will’t absolutely quantify,” mentioned Sen. Lynne Walz of Fremont, chairwoman of the Legislature’s Training Committee. “I’m more than happy to see this newest proof of the exceptional ripple impact that funding in training creates for Nebraska.”

Mark McHargue, president of the Nebraska Farm Bureau Federation, mentioned: “Relating to our state’s most vital business, agriculture, the College of Nebraska is a useful accomplice. The college supplies modern analysis to help our farmers and ranchers, educates the agricultural workforce of the long run, and serves households in each county by way of Extension and outreach. We’re lucky to have a accomplice whose funding in agriculture helps develop our state.”

Mentioned Bryan Slone, president of the Nebraska Chamber of Commerce and Trade: “Workforce is our generational problem. All of us have to work collectively to convey options, however no single entity within the state brings the dimensions and scope of the College of Nebraska. We all know intuitively, and this report confirms, {that a} robust and rising college is significant to constructing the workforce Nebraska wants to remain aggressive.”

Report Highlights

Amongst Tripp Umbach’s key findings:

  • The College of Nebraska System builds economically and socially vibrant communities in all 93 counties. Tripp Umbach broke down the college’s financial influence by each area and legislative district and located important returns throughout the state. For instance, the college grows the economic system within the western a part of Nebraska by $280 million yearly.
  • The College of Nebraska System sustains a extremely expert workforce for the state, supporting 1 of each 27 jobs in Nebraska. The 47,000-plus jobs supported by the college embrace not simply NU workers, however Nebraskans who’ve jobs on account of college actions.
  • College graduates generate important financial exercise for the state. About 1 of each 7 working-age Nebraskans holds an NU diploma, and 11,000 new NU graduates enter the workforce yearly. The earnings and spending actions of college alumni add $2.9 billion to the state’s economic system yearly, above and past the NU system’s baseline $5.8 billion influence.
  • College analysis is a robust driver of financial progress and high quality of life. School improvements in areas like agriculture, medication and engineering place the NU System among the many world’s top-ranked establishments in incomes patents, and the businesses spun off from their analysis are projected to create a whole lot of jobs within the years forward.
  • The college contributes to the well-being of the state. NU workers and college students yearly contribute $100 million in charitable donations and volunteer providers, like student-led service actions, free well being screenings, scholarly lectures and extra. NU’s campuses additionally supply actions that improve Nebraskans’ cultural understanding and construct connections amongst residents, together with live shows, artwork reveals and athletic occasions.

Annual financial impacts by campus are as follows. Figures don’t embrace Nebraska Medication and its associates.

  • College of Nebraska-Lincoln: $2.9 billion
  • College of Nebraska Medical Heart: $1.5 billion
  • College of Nebraska at Omaha: $898 million
  • College of Nebraska at Kearney: $365 million
  • Nebraska Faculty of Technical Agriculture: $15 million

The complete, detailed report from Tripp Umbach is obtainable at www.nebraska.edu/economicimpact.

 

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