UofU one of the state’s most important economic assets, new study shows

The Kem C. Gardner Policy Institute has released a study spotlighting the immense impact the University of Utah has on the state’s economy.

The study’s authors estimate the UofU’s direct employment of 39,300 jobs makes it the largest employer in the state. Further, they estimate the school directly and indirectly supports 83,100 jobs in Utah, $4.6 billion in earnings and $6.3 billion in gross domestic product. These impacts come at a time when University of Utah Health and other functions at the UofU provide critical support to Utahns and state leaders in the battle to confront the COVID-19 health and economic crisis.

Examples of the immense reach of the school in 2019 include the education and patient care of 32,994 students, the awarding of 8,268 degrees and certificates, more than 550 buildings, 15.4 million square feet of real estate in 16 counties and 38 cities in Utah, and approximately 2 million patient visits to the institution’s healthcare operations.

“One of our unique features is that we have a full academic medical center on a comprehensive campus and we are together physically,” said Ruth V. Watkins, president of the University of Utah. “That positions us well to have a major impact on the state’s economy. We are very proud of our role as the flagship research university of Utah, providing jobs, vital research and innovation. We’re equally proud of what we contribute as the University for Utah in serving our community through healthcare services and meeting the workforce needs of Utah businesses, as this report shows.”

The report includes an analysis of the UofU’s economic significance in two ways: economic contribution and societal benefits. Highlights from the report include the following:

• Research: In 2019, the UofU received $547 million in total research funding, making it by far the largest recipient of research funding in the state.

• Real estate:  The university owns and manages more than 550 buildings totaling 15.4 million square feet of institutional space in 16 counties and 38 cities throughout Utah, extending into six states and Washington, D.C.

• Patient care: The reach of University of Utah Health includes five hospitals, 12 community health centers, five schools and colleges, a library, one of the nation’s largest reference laboratories (ARUP Laboratories) and numerous institutes and centers.

• Arts and entertainment: The institution is home to a variety of arts and entertainment venues, including Kingsbury Hall, Simmons Pioneer Memorial Theater (and the Pioneer Theatre Company), Red Butte Garden, the Utah Museum of Fine Arts, Rice-Eccles Stadium, and the Huntsman Center.

• Societal impact: Individual and societal benefits to Utah associated with a college education include, among others, increased earnings, increased economic mobility, healthier lifestyles, decreased crime, increased volunteerism, increased voter participation, reduced reliance on public assistance and reduced poverty rate.

The expanse of the University of Utah’s mission has been recognized by the Association of American Universities (AAU). In 2019, the AAU invited the school to join its prestigious membership, which includes other well-recognized universities in North America, including Harvard University, Massachusetts Institute of Technology, Stanford University and Yale University.

In addition to serving as Utah’s flagship university, University of Utah Health serves as the state’s only academic medical center and provides patient care for the people of Utah, Nevada, Idaho, Wyoming, Montana and much of Nevada. In 2019, UofU Health directly and indirectly supported 47,500 jobs, $3 billion in earnings, and $3.9 billion in the Utah economy.

“At UofU Health, we serve the people and the state of Utah. We do this as one of the state’s largest employers, educators, researchers and healthcare systems. As a partner with our community, we strive to elevate the quality of life and health in Utah,” said Dr. Michael Good, CEO of University of Utah Health. “Our talented teams bring to Utah hundreds of millions of dollars in out-of-state grant funding, and also patient care revenue from patients who travel to Utah for world-class care. These dollars directly create and support jobs and tax revenues for the state. This report highlights the fact that bioscience is a job-creating, economic multiplier that improves human life.”

Both reports on the economic contribution of the University of Utah and University of Utah Health are now available online at gardner.utah.edu.