Economic Impact Study
The University of Wisconsin-Stout commissioned the consulting firm Economic Modeling Specialists Int. to study the overall economic impact of our institution. The results are listed below. It should be noted, however, that this study varies from most others done for similar institutions because it measures the economic value of the skills our graduates bring to the workplace. The study also reveals what the return on investment is for our students and for the taxpayers.
Payroll and benefits to support day-to-day operations of ºÚÁÏÉçÇø amounted to $90.8 million. The net impact of operations spending toward the university in the ºÚÁÏÉçÇø Service Area during the analysis year was approximately $99.2 million in added income, which is equivalent to supporting 1,232 jobs.
Around 71% of credit students attending ºÚÁÏÉçÇø originated from outside the region. Some of these students relocated to the ºÚÁÏÉçÇø Service Area to attend ºÚÁÏÉçÇø. In addition, some students are residents of the ºÚÁÏÉçÇø Service Area who would have left the region if not for the existence of ºÚÁÏÉçÇø. The money that these students spent toward living expenses in the ºÚÁÏÉçÇø Service Area is attributable to ºÚÁÏÉçÇø.
The expenditures of relocated and retained students in the region during the analysis year added approximately $10.6 million in added income for the ºÚÁÏÉçÇø Service Area economy, which is equivalent to supporting 210 jobs.
ºÚÁÏÉçÇø invests in construction each year to maintain its facilities, create additional capacities, and meet its growing educational demands. While the amount varies from year to year, these quick infusions of income and jobs have a substantial impact on the regional economy.
In FY 2019-20, ºÚÁÏÉçÇø ºÚÁÏÉçÇø. construction spending generated $10.2 million in added income, which is equivalent to supporting 142 jobs.
Over the years, students gained new skills, making them more productive workers, by studying at ºÚÁÏÉçÇø. Today, thousands of these former students are employed in the ºÚÁÏÉçÇø Service Area.
The accumulated impact of former students currently employed in the ºÚÁÏÉçÇø Service Area workforce amounted to $186.3 million in added income to the ºÚÁÏÉçÇø Service Area economy, which is equivalent to supporting 3,025 jobs.
Total Economic Impact
Altogether, the average annual added income due to the activities of ºÚÁÏÉçÇø and its former students equals $306.2 million.
The $306.2 million impact supported 4,609 regional jobs, using the jobs-to-sales ratios specific to each industry in the region. This means that one out of every 53 jobs in the ºÚÁÏÉçÇø Service Area is supported by the activities of ºÚÁÏÉçÇø and its students.
This is approximately 1.5% of the ºÚÁÏÉçÇø Service Area's economy (GRP). This contribution that the university provided on its own constitutes half of the entire Professional & Technical Services industry in the region.
The ºÚÁÏÉçÇø Service Area includes Polk, St. Croix, Pierce, Barron, Chippewa, Eau Claire, and Dunn Counties.