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October 30, 2024

Report: UW drives nearly $21 billion, 112,000 jobs to help support Washington’s economy

graphic showing statistic

Across its three campuses, the UW generated a total impact on the state’s economy of $20.9 billion in fiscal year 2023, according to report released today.University of Washington

Across its three campuses, the University of Washington generated a total impact on the state’s economy of $20.9 billion in fiscal year 2023, according to an economic contribution analysis released today. The study further concludes that the economic activity of the UW system supported or sustained 111,951 jobs statewide. 

“These numbers clearly demonstrate the University of Washington’s role as a powerhouse of innovation and economic growth for our state,” said Gov. Jay Inslee. “By driving job creation, research breakthroughs and community development as well as educating tomorrow’s leaders, the UW delivers on its public mission for all Washingtonians. This incredible contribution underscores the vital role public research universities play in building a thriving, dynamic economy.” 

The analysis shows that the economic contribution of the UW has increased over the past decade: The analysis shows that the economic contribution of the UW has increased over the past decade rising from $15.7 billion in 20189 to $20.9 billion in 20234. Similar reports in 2015 valued the UW’s impact at $12.5 billion, and $9.1 billion in 2009.   

“The University of Washington serves the people and communities throughout Washington in many ways: creating opportunity for students, training vital health care providers and other professionals, and advancing research and innovation in partnership with communities and industry,” said UW President Ana Mari Cauce. “As this report makes clear, the UW is making an impact that betters our state’s economy and improves the health and the lives of everyone we serve. We are proud to contribute and to help make all people in Washington thrive.” 

The study measured the economic contribution of UW operations including its campuses and projects in the Puget Sound region, Seattle-Tacoma-Bellevue Metropolitan Statistical Area, and across the state of Washington. The study provides individual impact analyses of UW Medicine, the five-state WWAMI Medical Education Program, UW research, Intercollegiate Athletics, UW alumni and CoMotion, a collaborative innovation hub dedicated to expanding the economic and societal impact of the UW community.  

For journalists: B-roll and soundbites about this year’s report are available here.

 

The study was conducted by Parker Strategy Group, formerly a part of Parker Philips, a nationally recognized consulting firm specializing in economic impact analysis.  

“The UW continues to grow its impact year over year in the city and the state. Continued economic growth is not a foregone conclusion for colleges and universities across the U.S. Once again, the UW shows that it is a sustainable economic driver that is making a significant economic and societal impact on Washington,” said Nichole Parker, managing principal of Parker Strategy Group. 

Among the findings in the study: 

  • The $20.9 billion total economic impact of the UW in fiscal year 2023. That figure included $10.3 billion direct and $10.6 billion indirect and induced spending. The total, was the result of operational, student, visitor and capital spending (three-year average), and payroll and benefits paid to employees. 
  • As a result of UW’s expenditures and student and visitor spending, the University supported or sustained a total of 111,951 jobs — one out of every 34 jobs in the state. 
  • Through its local spending and the jobs it supported or sustained, the UW generated $962.6 million in state and local taxes. 
  • UW staff, faculty and students contribute an estimated $66.4 million annually in charitable giving and volunteerism. 
  • The UW supported or sustained $1 out of every $32 in Washington’s economy. 

A large portion of the UW’s overall effect on the state’s economy is attributed to UW Medicine, which has an annual economic impact of $12.5 billion, supports or sustains 60,717 jobs and generates $588.3 million in state and local tax revenue. Beyond the medical and social impact of this integrated health system, UW Medicine connects residents with a top-rated medical school and an internationally recognized research organization. The study shows that UW Medicine’s impact continues to grow. 

Download the full report here.

 

UW’s research enterprise continues to be a driver of impact and discovery. The UW’s $1.87 billion in sponsored research drives $2.6 billion of UW’s overall impact. The UW receives more federal research dollars than any other U.S. public university, according to the National Science Foundation’s Higher Education Research and Development (HERD) survey.  

The study also analyzed the individual impact of the UW Bothell and UW Tacoma campuses, both of which make a major impact on the communities they serve and the state of Washington. Both campuses show an increase of jobs and impact in the five years since the previous economic impact study. UW Bothell’s fiscal year 2023 economic impact totaled $394.2 million in the state of Washington, with 2,539 jobs supported or sustained. UW Tacoma in fiscal year 2023 accounted for a $359 million impact in the state of Washington and supported or sustained a total of 2,277 jobs. 

In addition to the impact of campus operations, the report also found that the income being added into the economy as a result of graduates obtaining post-secondary education creates impact at the household, community and statewide level. In academic year 2023, the UW conferred over 7,000 bachelor’s, master’s, doctoral and professional degrees. The total number of alumni living and working in the state totals 375,625, a group which will generate $454.6 billion over their careers supporting and sustaining 2 million jobs. 

For more information, contact Victor Balta at balta@uw.edu.  

 

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