CU Contributes to Colorado in Many Direct, Indirect Ways<\/i><\/p>\n
DENVER \u2013 The University of Colorado system contributed $4.7 billion to the Colorado economy in 2007, including $3.7 billion in direct payroll, construction and technology expenditures, according to an economic impact report the university released today.<\/p>\n
The report, available online and in print, details the direct and indirect ways in which the university contributes to Colorado\u2019s economy through work force and business development, employment, tourism, demand for goods and services, technology transfer and health care, surpassing some of Colorado\u2019s other major economic drivers.<\/p>\n
\u201cThis report articulates what I have known for quite some time: Higher education is a sound investment for the state of Colorado,\u201d said CU President Bruce D. Benson. \u201cUniversities not only enrich the lives of students through education and preparation for an increasingly competitive global marketplace, but are engines that drive long-term, statewide economic development.\u201d<\/p>\n
The University of Colorado system, the state\u2019s fourth-largest employer, continues to provide a good return on Colorado\u2019s investment, giving back $26.50 to the state economy for every $1 of unrestricted state general fund support it receives.<\/p>\n
The university has accomplished these contributions despite dwindling higher education support over the past six years. Colorado is ranked 49th nationally for per-student state funding compared to peer institutions. Since 2002, the state\u2019s per-student funding has dropped by 19.3 percent, leaving higher education searching for new funding, including tuition increases.<\/p>\n
High among the University of Colorado\u2019s core missions is academic research on all its campuses. Researchers working in the university system attracted some $637 million in research funding in fiscal year 2007-2008, exploring and innovating in a variety of fields such as medicine, aerospace, renewable energy development and biotechnology.<\/p>\n
University of Colorado students contribute substantially to the state\u2019s economy as well. When students \u2013 and the visitors who come to Colorado to see them \u2013 spend money around the state, Colorado\u2019s tourism and the retail sectors benefit as well. Last year, University of Colorado students and their visitors generated $1 billion on meals, rent, entertainment, clothing and utilities.<\/p>\n
The University of Colorado boasts a combined total of 55,000 students at CU-Boulder, UC Colorado Springs and UC Denver, including the Anschutz Medical Campus in Aurora. Among Colorado\u2019s four-year public universities, it confers 42 percent of all bachelor\u2019s degrees; 60 percent of all master\u2019s degrees; 57 percent of all doctorates; and 82 percent of all first-professional degrees.<\/p>\n
Contributions by alumni do not end at graduation, however. Many University of Colorado graduates choose to remain in Colorado, supplying the state with civic, political and business leadership, a highly skilled, entrepreneurial work force and cutting-edge, start-up companies.<\/p>\n
Technologies developed at the University of Colorado \u2013 from biotechnology to renewable energy solutions \u2013 have formed the basis of 44 new Colorado companies over the past five years. All but four still operate, and of those all but four are based in Colorado or have significant Colorado operations. Revenues from royalties based on sales of products protected by university patents, including legal settlements, was $113.5 million in fiscal year 2006-07. The University of Colorado is among the top 10 universities nationwide in the number of companies created.<\/p>\n
In the health care arena, the University of Colorado is the only Colorado university that prepares physicians, dentists and pharmacists. UC Denver\u2019s Anschutz Medical Campus also trains physical therapists, medical technicians, dental hygienists and other medical professionals. It joins the Beth-el College of Nursing and Health Sciences at UC Colorado Springs as a leader in the preparation of nurses. Last year, the university produced 137 medical doctors, 59 dentists, 157 pharmacists and 474 nurses.<\/p>\n
For every dollar of state funding, the UC Denver School of Medicine generates more than $52 in clinical revenues, grants, contracts and other revenues. Last year, the school received $12 million in state funding and provided $26 million in uncompensated care for Coloradans.<\/p>\n
Last year, university employees \u2013 about a third of them in the state classified system \u2013 contributed $34.5 million in Colorado payroll taxes. The university\u2019s three-campus, four-location system employs some 24,000 faculty, staff and students, and created additional jobs in the public and private sectors through demand for construction, goods and manufacturing.<\/p>\n
The University of Colorado has campuses in Boulder, Colorado Springs and Denver. The UC Denver campus includes the Anschutz Medical Campus in Aurora. CU is a premier teaching and research university that is ranked sixth among public institutions in federal research expenditures by the National Science Foundation. Academic prestige is marked by the university\u2019s four Nobel laureates, seven MacArthur \u201cgenius\u201d Fellows, 18 alumni astronauts, 19 Rhodes Scholars and CU-Boulder\u2019s ranking of 11th best public university and 34th best overall university in the world by the Institute for Higher Education.<\/p>\n
To read more about the University of Colorado system and its 2007 economic impact report, go to http:\/\/www.cu.edu<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" CU Contributes to Colorado in Many Direct, Indirect Ways DENVER \u2013 The University of Colorado system contributed $4.7 billion to the Colorado economy in 2007, including $3.7 billion in direct payroll, construction and technology expenditures, (Full Press Release)<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-363","post","type-post","status-publish","format-standard","hentry","category-pressreleases"],"_links":{"self":[{"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=\/wp\/v2\/posts\/363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=363"}],"version-history":[{"count":0,"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=\/wp\/v2\/posts\/363\/revisions"}],"wp:attachment":[{"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pressreleases.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}