Michigan State University (MSU) is one of the state’s three largest research and development universities; together, these institutions contributed $13.3 billion to the economy in 2007.
According to excerpts from the article:
One of every $50 earned in the state of Michigan can be attributed to the economic impact of the state's three research universities, according to a new report.
The University Research Corridor—which consists of the University of Michigan, Michigan State University and Wayne State University—registered a net economic impact of $13.3 billion in 2007, up 3.5 percent from 2006, the report concluded.
That figure is a "conservative estimate" that only counts wages that would not have been earned if the universities didn't exist, Anderson said. The report asserts the URC accounted for 69,285 Michigan jobs in 2007.
The report underscores the URC's concerted effort to play a greater role in the Michigan economy—which has led to the mobilization of technology licensing departments and resulted in entrepreneurial professors starting more businesses.
But it also reflects the sheer girth of the universities themselves—which directly employ 48,760 full-time workers, up 2,362 from 2006, and spend about $6.2 billion a year.
Read the entire article here.
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