A study has found that University of Wisconsin-Madison and its affiliated organisations have an economic impact of $15bn.
NorthStar Consulting has completed a study that has found that University of Wisconsin-Madison, along with University of Wisconsin Hospitals and Clinics, has an economic impact of $12bn annually.
The organisations account for more than 158,000 jobs and generate $687.9m in state tax.
Once affiliated companies and organisations are accounted for, such as spinout companies from the university and the Alumni Association, NorthStar found that $15bn in economic impact can be linked back to these organisations.
Rebecca Blank, chancellor of the University of Wisconsin-Madison, said: “The University of Wisconsin has thrived because of the investment Wisconsin’s taxpayers and leaders have made over many generations. 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.”
Research from the university has created at least 311 startups. These startups have created 24,972 jobs between them with an estimated contribution to the State economy of $2.3bn.
The report concludes that for every dollar in taxpayer money invested into the university it generates $24 in return for the State.
