Economic Impact Report, FY21

The University of Missouri System engaged Tripp Umbach, a nationally recognized consulting firm that has completed more than 500 economic impact studies for clients around the globe, to measure the economic value generated by the UM System’s research, operations, service and expenditures throughout the state of Missouri in Fiscal Year 2021, which ran from July 1, 2020, to June 30, 2021. The impact analysis measured effects throughout the state and each of its four universities as well as MU Extension, academic medicine, research, athletics and alumni. 

The influence that the UM System and the aforementioned entities have on the vitality of the economy within each region and the state include business volume impacts (capital expenditures, operational expenditures, salary data and state and regional business volumes); direct and indirect/induced employment; government revenue at the local and state levels; spending by employees and students in the local economy on goods and services; and visitor spending on the economy.

A brief summary of the overall impact of the UM System on the state of Missouri is outlined below; for full details, read The Economic and Community Impact of the University of Missouri System, FY21 report (PDF, 2.7MB).

Overview: The Impact of the UM System

The University of Missouri System (UM System) is a powerful engine for education, outreach and research, and plays an important role in the generation of economic impacts, employment and government revenue throughout the state. With four distinct campuses, a strong research footprint, two successful academic medical centers and a statewide extension organization, the UM System contributes significantly to regional and state economies.

• $6.5 billion generated in economic impact by the UM System and its four universities, MU Extension, athletics and academic medicine
• More than 69,000 direct and indirect jobs, both full-time and part-time 
• Approximately $366.5 million generated in state and local taxes
• $1.5 billion economic impact generated by the UM System research enterprise
• $2.4 billion generated in economic impact by UM System academic medicine
• $376.8 million generated in economic impact by athletics at the four UM universities

University of Missouri-Columbia

University of Missouri-Columbia (MU) students represent every Missouri county, all 50 states and 120 countries. The state’s largest university, it is one of only six public universities nationwide with a medical school, college of veterinary medicine and law school on the same campus. Publications, web-based services and extension offices and faculty members in every county provide the benefits of MU research to Missouri’s citizens.

MU's Impact on Missouri in FY21

• MU generated $5 billion in economic impact for the state
• MU supported 49,937 full-time and part-time jobs, both direct and indirect, throughout the state 
• MU generated $281.8 million in state and local taxes

University of Missouri-Kansas City

The University of Missouri-Kansas City (UMKC), originally chartered as University of Kansas City in 1929 as a private institution, is now the largest comprehensive, fully accredited university in the Kansas City area. With a 14:1 student-to-faculty ratio, students from all 50 states and more than 85 countries, UMKC has earned national and international attention for the quality of its faculty, students, research and community leadership.

UMKC's Impact on Missouri in FY21

• UMKC generated more than $597.2 million in economic impact for the state
• UMKC supported 7,291 full-time and part-time jobs, both direct and indirect, throughout the state
• UMKC generated $33.4 million in state and local taxes

Missouri University of Science and Technology

Missouri University of Science and Technology (Missouri S&T) puts a strong focus on innovation and research. More than 7,200 students are enrolled in 101 degree programs in 40 areas of study. The university was recognized by Business Insider in 2020 as one of the top 10 universities for return on investment.

S&T's Impact on Missouri in FY21

• Missouri S&T generated $487.2 million in economic impact
• Missouri S&T supported 6,540 full-time and part-time jobs, both direct and indirect, throughout the state
• Missouri S&T generated $27.3 million in state and local taxes

University of Missouri-St. Louis

The University of Missouri-St. Louis (UMSL) is the largest public research university in eastern Missouri, with more than 15,500 students. It provides excellent learning experiences and leadership opportunities to a diverse student body whose influence on the region upon graduation is immense. While UMSL graduates can be found in all 50 states and around the globe, their greatest impact is felt in the St. Louis area, where 75% of UMSL alumni continue to live.

UMSL's Impact on Missouri in FY21

• UMSL generated more than $429 million in economic impact for the state 
• UMSL supported 5,485 full-time and part-time jobs, both direct and indirect, throughout the state
• UMSL generated $24 million in state and local taxes

University of Missouri Extension

University of Missouri Extension (MU Extension) helps citizens across the state gain practical knowledge, understand and adapt to change, solve problems and make informed decisions. Using University research-based knowledge, MU Extension addresses a wide range of needs that fall into three grand challenges for the state of Missouri: economic opportunity, educational excellence and healthy futures. Every year, more than one million Missourians turn to MU Extension for education and support specifically designed to respond to current needs, including agriculture and the environment; business and community development; family and youth development; and health and safety. 

MU Extension's Impact on Missouri in FY21

• MU Extension operations support faculty working in all 114 counties of the state and the City of St. Louis. Economic impact of MU Extension operations within the UM System totaled $117.6 million.
• For every dollar invested in MU Extension, $13 of public value is returned. The total returned public value for MU Extension was estimated at $1.2 billion.
• For every $1 invested in the Business Development Program in the past three years, the program returned $133 in economic impact for its clients in the form of increasing sales by more than $1.6 billion. The program has helped create or retain more than 37,000 jobs while attracting nearly $451 million in capital investments and $1.5 billion in government contracts for a total impact of $3.1 billion over the past three years.

Academic Medicine

The UM System helps deliver quality, life-changing medicine and health care throughout Missouri. Each of the four System universities offers programs under the broad umbrella of academic health care, including two M.D.-granting medical schools with comprehensive academic, clinical and research programs in Columbia and Kansas City. MU Health Care is the largest health system in mid-Missouri, with more than 6,000 physicians, nurses and health care professionals in over 80 specialties who care for more than 240,000 patients a year from each of Missouri’s 114 counties. MU also has the state’s only College of Veterinary Medicine, in addition to the Sinclair School of Nursing and the School of Health Professions. Besides medicine, UMKC also has a School of Nursing and Health Sciences, School of Dentistry and School of Pharmacy. UMSL has the state’s only College of Optometry, and Missouri S&T has recognized strengths in biomedical engineering. 

Academic Medicine Impact on Missouri in FY21

• Economic impact of academic medicine programs offered by the UM System totaled $2.4 billion.
• More than $135.1 million of in-state and local tax revenue was generated by the System’s academic medicine programs in FY21.
• Academic medicine programs offered by the UM System supported more than 25,000 throughout the state.

About Tripp Umbach

Tripp Umbach is a national leader in conducting economic impact studies, consultation, and communication services Tripp Umbach has completed more than 500 economic impact studies over the past 30 years for clients in North America, Australia, and Europe. 

Since 1995, Tripp Umbach has completed national studies of the economic impact of all 130 medical schools and 400 teaching hospitals for the Association of American Medical Colleges (AAMC).