(Aug. 11, 2014) - The University
of Colorado Denver/Anschutz Medical Campus continues to be
a major engine of state growth, creating thousands of jobs, attracting millions
in research dollars and contributing over $3 billion to the Colorado economy in
university’s latest economic impact reports, released today, show significant
growth in its overall effect on the state economy. In fact, if it were a
publicly traded company CU Denver/Anschutz would rank in the top 25 statewide.
story of this university is one of perseverance, dedication and continued
growth,” said CU Denver Chancellor Don Elliman. “We have a profound impact on
our state. Our medical researchers pioneer countless new treatments, our
professors are sought after experts on everything from commodities to
Alzheimer’s disease and our students receive outstanding value for their
ranks 48th in the nation in per capita state funding for higher
education, receiving just 6 percent of its total revenue from the state.
though the University receives such a small percentage of its overall campus
funding from the state, it an absolutely critical source of funding for us,”
said Jeffrey Parker, vice-chancellor for administration and finance. “That
funding is a key financial foundation of the university’s academic and
state also supports student financial aid - $7.3 million in FY 2012-13 – which
helps keep tuition affordable for Colorado residents.
can’t go it alone,” Parker said, “especially the Anschutz Medical Campus, which
has limited student enrollment and constraints on its tuition generating
ability. Without state funding those programs could not continue.”
report, prepared by the university with economic modeling from Sammons
Consulting LLC, showed its contribution to the economy rose from $2.65 billion
in FY 2009-10 to $3.3 billion for FY 2012-13.
employment impact increased from 24,000 jobs to 29,374. That includes direct
employment of faculty, staff, residents and student workers along with indirect
support from thousands of other jobs. University sales and earnings contributed
an estimated $42 million in combined sales and income taxes in FY 2012-13.
aside, CU Denver/Anschutz has ramped up efforts to graduate students into high
paying jobs also benefitting the economy. It stresses hands-on learning and
produces more students with advanced degrees than any other public institution
2013 study showed that CU Denver/Anschutz graduates with a bachelor’s degree
had a median first-year salary of $43,804 while those with a master’s had a
median first-year income of $55,605. Graduates with doctorates or other
professional degrees earned $85,772.
economic impacts extended to the university’s broad array of service learning
programs which enrich the health and overall quality of life in Denver and
throughout Colorado. For example, the Urban Citizen Program in the College of
Liberal Arts and Sciences connects students with projects aimed at poverty,
housing, diversity, education, crime and immigration. Students average 600-800
hours of community service and in many cases the city is their classroom.
School of Public Health working with Children’s Hospital Colorado has built a
state-of-the-art medical center in Guatemala with students, doctors and
researchers now rotating through. The university is also home to 100 centers
and institutes conducting research, advocacy and providing medical care which
contribute to the overall economic impact of the university.
campus impacted the Colorado economy in its own way.
Anschutz Medical Campus had a direct impact of $2.6 billion.
That figure is up from a
$2.05 billion in 2009-10. Anschutz also supported 21,954 jobs compared to
17,800 jobs in 2009-10. Despite tight budgets, Anschutz keeps expanding.
A new $36.7 million science building broke ground last April and is slated for
completion in 2015.
the campus remains a research leader. In FY 2012-13, 27 patents were granted,
114 inventions unveiled and four start-up companies launched. Last year, over
half of all licenses for Anschutz technology were given to companies in
“In these times of shrinking budgets it is vital
that the people of Colorado understand the enormous economic, medical, social
and educational benefits that our university brings to the state,” said Lilly
Marks, vice president of health affairs and executive vice chancellor of the
Anschutz Medical Campus. “It’s an incredible story and one that needs to be
Denver saw a state economic impact of $720 million in FY 2012-13, up from $604
million in FY 2009-10. Its total employment impact was 7,420 jobs, compared to
6,300 in the last report.
university is home to seven schools and colleges and confers more master’s
degrees than any other public institution of higher learning in the state. Some
73 percent of alumni remain in Colorado, increasing the university’s impact.
economic impact reports are based on university and student spending. The
expenditures were taken from the university’s financial records and estimated
student spending based on annual housing, transportation and living expenses.
See the full reports →