MISSOULA — A new study says the University of Montana has a $1 billion economic impact on the state.
The university commissioned the study, which was done by its Bureau of Business and Economic Research.
Patrick Barkey, director of BBER and lead author of the study, says the study was done to show the Legislature that its investment in higher education has a return to the state economy.
The study asks what the state economy would look like if the University of Montana didn't exist. It follows where state tax dollars, student tuition and research dollars are spent.
The report concludes there would be 9,700 fewer jobs in Montana and $200 million less in state tax revenue if UM didn't exist. It also says UM adds $1 billion in after-tax income to the state economy and leads to $352 million in annual investment spending by businesses.
The report takes into account the $50 million in state funding the university receives as well as tuition paid by in-state students.