A study released yesterday by EMSI and the University of Nebraska at Kearney reveals that UNK contributes nearly $654 million annually to Nebraska’s economy.
Spearheaded by EMSI research economist Tim Nadreau, the study factored in student productivity ($590.4 million), plus the combined effects of the university’s annual spending within Nebraska ($42.7 million) as well as the spending of students and visitors from outside the state ($20.7 million).
According to the news release, EMSI was chosen to conduct the study “because of their unique methodology that, while taking into account actual spending by the institution, also recognizes the even more powerful impact of the university’s graduates in the Nebraska workplace.”
The result? UNK-related activities and outcomes are equal to nearly 1% of Nebraska’s gross state product — which is significant given UNK’s size and location.
The economic study revealed three key facts:
First, UNK promotes regional economic growth through its own operations spending and through the increase in productivity as former UNK students remain active in the regional workforce. Second, the student productivity effect is by far the largest and most important impact of UNK, stemming from higher incomes of students and their employers. And third, regional income in Nebraska would be substantially lower without the educational activities of UNK.
“This study demonstrates that we are a major economic engine,” said UNK Chancellor Doug Kristensen in a press release, “and offer a tremendous return on investment to students and taxpayers.”
Click here to read the full report.