STORRS — The University of Connecticut generates approximately $3.4 billion in economic activity annually in the state, including more than 24,000 jobs and over $202 million in tax revenue, according to a report released Wednesday by the national research and consulting firm Tripp Umbach.
University administrators call the report is the most comprehensive measurement to date of the economic value UConn provides to Connecticut, encompassing everything from research grants won to the charitable contributions of students, faculty and staff members.
“This report provides an empirical foundation for concluding what’s long been clear anecdotally: UConn is essential to the success of our state,” said UConn President Susan Herbst. “This research also provides a baseline we can use to measure our success as we embark on new initiatives like Next Gen Connecticut and the UConn Technology Park.”
Tripp Umbach reports that UConn generates $1.5 billion in direct economic impact and $1.9 billion in indirect impact. Also UConn supports about 24,235 jobs, both directly and indirectly, or one out of every 90 jobs in Connecticut. In addition, UConn generates around $202 million in state and local tax revenues, according to the report.