UW-Madison responsible for nearly $31 billion of Wisconsin’s economic impact
MADISON, Wis. (WMTV) - University of Wisconsin- Madison makes up a nearly $31 billion impact on Wisconsin’s $345 billion economy, a new report finds Thursday.
UW Madison is also found to be one of Wisconsin’s major job creators, the study conducted by NorthStar Analytics found. UW makes 232,057 public and private sector jobs, which is more than 7% of the three million jobs in the state. To put that in perspective, UW is put on par with industries like dairy, tourism and food processing.
CEO of NorthStar Analytics David Ward says that the numbers in this report show the large impact that comes from UW- Madison.
“As we move further into the information economy, the university is clearly a driver of innovation for a broad range of Wisconsin industries from manufacturing to health care, building an important foundation for future growth in the state,” Ward said.
The UW System is requesting nearly $96 million in the state biennium budget, which is an increase of 3.5%. This comes after UW System President Tommy Thompson said the state Legislature will not support a tuition increase.Thompson said Wednesday that UW is giving the state more than what funding it receives in return.
“We’re done apologizing for the University of Wisconsin... and some people have criticize us for this or that, costing too much, but the state of the matter is the state gives us 17 percent of our finances to run the university, and yet we return a 23 to 1 return on investment,” Thompson said.
The presentation of the report comes just a week before Gov. Tony Evers gives his budget address. The governor has not hinted on how much of his budget proposal will go towards UW.
Roughly 14% of UW’s funding comes from the state government.
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