The University of Colorado generated an economic impact of more than $10 billion across the state during the 2022-2023 fiscal year.
A study from the Business Research Division of CU Boulder’s Leeds School of Business reports $10.8 billion in total impact stemmed from the four CU campuses, according to the release. Another $6.5 billion was contributed by the two CU affiliate hospitals, which are the University of Colorado Hospital and Children’s Hospital Colorado.
“I am incredibly proud of what we do on all four CU campuses, and this economic impact is a reflection of that excellent work,” CU President Todd Saliman said in the release. “I’m thrilled to take a moment and celebrate the significant contributions our university is making to serve our great state and help power the Colorado economy. There are so many different ways CU strives to support our state, and we are certainly proud to be a leading driver toward Colorado’s success.”
CU directly employed 43,255 faculty, staff and student workers earning $3.6 billion in salaries and benefits. The university operated on $5.2 billion in revenue, of which $1.7 billion was tied to sponsored research programs and other restricted fund activity, the release said.
The CU system is among the state’s top five largest employers.
Besides employing thousands, according to the release, CU helps drive Colorado’s economy by buying from local vendors, attracting investment, educating the local workforce and delivering research discoveries.
Economic impact figures include employee and student worker earnings, operating expenditures, construction, research and spending by students and visitors. The study did not include the impact of alumni, retirees, athletics and technology transfer.
