The University of Colorado's four-campus system had a $5.3 billion economic impact on the state in 2011, according to an analysis released by the school today.
Other studies in recent years had calculated CU's annual economic impact on the state to be as high as $6 billion, but this latest CU analysis is conservative and is based on more accurate methodology, according to the university. It does not include the economic impact of visitors, for example, who come to graduation ceremonies or football games.
The research – which CU touts as the most comprehensive ever – was conducted by the Business Research Division of the Leeds School of Business at CU's Boulder campus. The data includes the statewide economic impact from the university and the individual effects on Metropolitan Statistical Areas with CU campuses.
“CU is a substantial, stable economic driver for Colorado that not only produces a highly educated workforce, but also creates jobs and companies in our states,” CU President Bruce Benson said in a statement. “Our faculty researchers also bring hundreds of millions to Colorado, which has significant ripple effects in key sectors of Colorado's economy.”