Troy Fedderson, December 16, 2024
Study finds UNL contributes $3.06B to state economy
Nebraska’s flagship university continues to serve as a cornerstone of the Cornhusker State’s economic success.
A new economic development report discussed during the Dec. 6 University of Nebraska Board of Regents meeting reported that the University of Nebraska–Lincoln has an annual economic impact of $3.06 billion on Nebraska. The total is a $200 million increase since 2021. The university also supports 25,121 jobs statewide and contributes $84 million in state taxes.
All three totals represent nearly half of the University of Nebraska system’s overall economic impact.
“The University of Nebraska–Lincoln continues to play a central role in shaping the economic landscape of our state,” said Chancellor Rodney D. Bennett. “We are not only advancing education and research, but also driving growth, job creation and economic stability for all Nebraskans.”
The report was part of preliminary findings shared by Paul Umbach, founder and president of the firm Tripp Umbach. A full version of the report will be available in early 2025.
Overall, the NU system provides an annual economic impact of $6.4 billion, a $600 million increase since a 2021 report produced by Tripp Umbach.
During the meeting, Umbach shared additional details on the NU system’s influence on job creation, research innovation and workforce development statewide. Other contributions of the NU system to the Nebraska economy are:
- For every $1 invested by the State of Nebraska in the NU system, $10 is returned to the state’s economy;
- When NU’s impact is combined with that of Nebraska Medicine, the total economic impact rises to $11.9 billion — a $1.6 billion increase since 2021; and
- The NU system supports 52,335 jobs statewide, up from 47,342 in 2021. This equates to one in every 20 jobs in Nebraska being directly or indirectly tied to the university.
“The University of Nebraska is a powerhouse for our state’s economic growth and competitiveness,” said Dr. Jeffrey P. Gold, president of the NU system. “The return on investment for Nebraskans is clear: The University of Nebraska creates opportunities, fuels innovation and creates ripples that positively impact communities and people all across the state.”
The NU system is one of about 50 organizations currently working with Tripp Umbach to quantify economic impact, Umbach said. While many other institutions of higher education have flatlined or even contracted in their economic impact since 2020, NU has seen broad and steady economic growth, he said.
