University of Missouri’s economic impact $5.4B annually
JEFFERSON CITY, Mo. – A study says the University of Missouri System has a state economic impact of about $5.4 billion a year.
The Columbia Missourian reports that the economic impact study was done by consulting firm Tripp Umbach. System administrators and Tripp officials presented the results to lawmakers on Tuesday.
The report says the system also collected more than $244 million in state and local revenue taxes and employed more than 61,000 people last year.
The report says an organization’s total economic impact compiles the direct, indirect and induced impact generated in the economy as a result of the organization. The total impact includes the organization’s spending, the labor income expenditures and the resulting value added to the economy.