Michigan's three largest higher education institutions together supported the state's economy by $17.5bn in 2015.
The Ninth Annual Economic Impact Report of Michigan’s University Research Corridor (URC), an alliance of Michigan State, Wayne State and Michigan universities, has shown URC contributed $17.5bn to the state’s economy in 2015.
The report, compiled by the Anderson Economic Group and commissioned by URC, analyses the alliance’s impact on the state’s economy and benchmarks its progress against peer universities.
The report also noted that URC surpassed its five-year average for the number of patents issued and its licensing and options activity. This marks the third year it has achieved this rating.
The economic impact of the URC means that for every dollar invested by the state in one of the universities, the state gained $22 in return.
Jeff Mason, executive director of the URC, said: “The Ninth Annual Economic Impact Report demonstrates the collective power of the URC universities, which are highly competitive with the most respected clusters in the country.”
Mark Schlissel, president of Michigan University, said: “The URC continues to lead the country in talent creation, producing graduates in medical fields and advanced degree programs at a higher rate than every other university cluster. Our immense pool of talent helps drive the economy and makes Michigan a more attractive place to live and do business.”
