UM System presents economic impact study results to legislators

University of Missouri System leaders are making the case to lawmakers in Jefferson City that an investment in higher education will pay off for the state.

System President Mun Choi and others presented the results of an economic impact study Tuesday in the House Lounge inside the state capitol.

The study, conducted by consulting firm Tripp Umback, found that the four UM System campuses had a $5.4 billion “impact on the state of Missouri” in fiscal year 2017. The study said $3.9 billion of that came from the Columbia campus alone.

“This is part of our effort to communicate more about what we’re doing,” Choi said. “Not only are we providing economic impact; we’re training the teachers that are working in your schools. We’re training the doctors that work in your hospital.”

The presentation comes as legislators are putting together the state budget for next year. Missouri Governor Eric Greitens recommended an $80 million cut to higher education in January, which higher education advocates hope to avoid.

According to the study, the UM System offers a 13.5 to 1 return on investments for the state, which allots about $400 million to the system annually.

“A 13.5 percent return on investment is a very high number,” Choi said. “We want to continue to increase that, become even better.”

For an in-depth look at the UM System’s history of financial issues with the state, click here.