A new study of the University of Missouri System’s impact on Missouri shows some impressive numbers.
The study is titled “Economic Impact on Missouri of the UM System.” It was funded by The Missouri 100, an advocacy group supporting “the most pressing priorities of the UM System, its four campuses, MU Healthcare and Extension.”
The study suggests Missouri’s economic growth rate is 25 percent higher due to the UM System’s research and development efforts.
It also claims aggregate income would decline if the UM System stopped educating students.
The study points out, over the course of a generation, the more-educated workforce is worth more than $240 billion in “extra real gross domestic product.”
Professor and Kenneth Lay Chair in Economics Joe Haslag is the report’s co-author. He said the study goes well beyond recent controversies surrounding the Columbia campus. He said, “At the very core, that’s not what we are. We’re not a football team. We’re not all about campus protests. All of those things have a place, but day-to-day throughout the entire academic year, this year, just like all past years, we have students who are attending class. Hopefully, they’re getting something out of those classes.” Dr. Haslag said, “We have faculty who are conducting basic research and that basic research has implications for how fast the state grows.”