University of Minnesota
Measuring the Economic Power of a Statewide Research Leader
The Challenge
As one of the nation’s top public research universities, the University of Minnesota sought a comprehensive way to demonstrate its full economic and social impact across the state. With five campuses contributing to education, healthcare, and innovation, UMN needed a data-driven analysis to quantify its role as a statewide engine of growth, opportunity, and community benefit.
How We Helped
Tripp Umbach conducted an independent economic impact study to evaluate UMN’s contributions for Fiscal Year 2024. The analysis measured direct, indirect, and induced effects from University operations, research, and spending by students, faculty, staff, and visitors—providing a clear, data-backed picture of UMN’s statewide influence.
The study found that UMN generated $11.5 billion in total economic impact in FY24, including $4.1 billion in direct spending and $7.4 billion in indirect and induced effects. The University’s activities supported more than 89,000 jobs and contributed $676 million in state tax revenue, reinforcing UMN’s position as an essential force in Minnesota’s economy, workforce, and quality of life.