By Greg Bump, UW-Madison
The University of Wisconsin-Madison continues to be one of the state of Wisconsin’s greatest economic engines, accounting for $15 billion in economic impact statewide according to a new report.
The report shows that UW–Madison, UW Hospital and Clinics and the university’s affiliated organizations and startup companies support 193,310 Wisconsin jobs and generate more than $847.5 million in state and local tax revenue. That’s up from 128,146 jobs and $614 million in tax revenue the last time a similar study was completed in 2011.
Entities affiliated with UW-Madison, including the Wisconsin Alumni Association, the Center for Advanced Studies in Business, the Fluno Center for Executive Education, the Morgridge Institute, the University of Wisconsin Foundation, the Wisconsin Alumni Research Foundation (WARF), the Wisconsin Film Festival, University Research Park, and WiCell, contribute an additional $918 million to the state economy, while supporting more than 9,988 additional jobs, and generating nearly $46 million in additional tax revenue.
The report highlights the importance of a thriving UW–Madison to the state’s overall economic health, Chancellor Rebecca Blank says.
“The University of Wisconsin has thrived because of the investment Wisconsin’s taxpayers and leaders have made over many generations,” Blank says. “In turn, we are now a major economic driver. This study shows that there is no doubt that a strong UW–Madison is essential to the growth of Wisconsin’s economy.”
Conducted by NorthStar Consulting, the study found that UW-Madison, along with UW Hospital and Clinics, has an annual economic impact of $12 billion, while supporting more than 158,350 Wisconsin jobs and generating $687.9 million in state tax revenue. Read more …