{"id":910,"date":"2018-08-15T16:19:05","date_gmt":"2018-08-15T21:19:05","guid":{"rendered":"https:\/\/www.wisconsin.edu\/economic-development\/?page_id=910"},"modified":"2018-08-16T14:27:12","modified_gmt":"2018-08-16T19:27:12","slug":"uw-system-economic-impact-beyond-the-traditional-numbers","status":"publish","type":"page","link":"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/uw-system-economic-impact-beyond-the-traditional-numbers\/","title":{"rendered":"UW System Economic Impact: Beyond the Traditional Numbers"},"content":{"rendered":"\n\t\t\t\t\t<div id=\"cfct-build-910\" class=\"cfct-build grid\">\n\t\t\t\t\t\t<div class=\"row\"><div class=\"col-md-3 cfct-block\">\n\t\t\t<div class=\"cfct-module cfct-module-loop-subpages\">\n\t\t\t\t<div class=\"\"><h3 class=\"cfct-mod-title\" id=\"title-cfct-module-ac716d935dd3c5198475d3c3228aa0f8\"\">Economic Impact Study 2018<button type=\"button\" class=\"visible-xs collapsed\" data-toggle=\"collapse\"\n                                                data-target=\".menu-cfct-module-ac716d935dd3c5198475d3c3228aa0f8-container\">\n\t\t<span class=\"sr-only\">Toggle navigation<\/span>\n\t\t<span class=\"glyphicon glyphicon-chevron-up\"><\/span><\/button><\/h3><div class=\"cfct-mod-content menu-cfct-module-ac716d935dd3c5198475d3c3228aa0f8-container collapse navbar-collapse\">\n    <nav aria-labelledby=\"title-cfct-module-ac716d935dd3c5198475d3c3228aa0f8\">\n        \n\t\t\t\t\t<ul class=\"cfct-module-loop-subpages menu nav\">\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/executive-summary\/\">Executive Summary<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/economic-impact-study-introduction\/\">Introduction<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/overall-economic-impact-of-uw-system-on-the-wisconsin-economy\/\">Overall Economic Impact of UW System on the Wisconsin Economy<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/uw-system-impact-on-jobs-in-wisconsin\/\">UW System Impact on Jobs in Wisconsin<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/uw-system-impact-on-state-and-local-taxes\/\">UW System Impact on State and Local Taxes<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/who-benefits-from-uw-system-economic-activity\/\">Who Benefits from UW System Economic Activity?<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/leveraging-state-investment-in-the-uw-system\/\">Leveraging State Investment in the UW System<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/uw-system-economic-impact-beyond-the-traditional-numbers\/\">UW System Economic Impact: Beyond the Traditional Numbers<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/methodology-for-this-study\/\">Methodology for this Study<\/a><\/li>\n\t\t\t\t\t\t<li ><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/economic-impact-study\/conclusion-and-context\/\">Conclusion and Context<\/a><\/li>\n\t\t\t\n\t\t\t\t\t<\/ul><!-- \/cfct-module-loop-subpages menu nav -->    <\/nav>\n<\/div>\n<\/div>\n\t\t\t<\/div><\/div><div class=\"col-md-9 cfct-block\">\n\t\t\t<div class=\"cfct-module cfct-heading\">\n\t\t\t\t<h1 class=\"cfct-mod-title\">UW System Economic Impact: Beyond the Traditional Numbers<\/h1>\n\t\t\t<\/div>\n\t\t\t<div class=\"cfct-module uwsa-rich-text\">\n\t\t\t\t<div class=\"cfct-mod-content copy\"><p><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/MIL_Nisrit-Pandey20170503_IMC__EH_0001-e1534446021403.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-1098\" src=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/MIL_Nisrit-Pandey20170503_IMC__EH_0001-e1534446021403-300x255.jpeg\" alt=\"Photo of UW-Milwaukee researcher\" width=\"300\" height=\"255\" srcset=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/MIL_Nisrit-Pandey20170503_IMC__EH_0001-e1534446021403-300x255.jpeg 300w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/MIL_Nisrit-Pandey20170503_IMC__EH_0001-e1534446021403-768x653.jpeg 768w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/MIL_Nisrit-Pandey20170503_IMC__EH_0001-e1534446021403-1024x871.jpeg 1024w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/MIL_Nisrit-Pandey20170503_IMC__EH_0001-e1534446021403.jpeg 1927w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>The scope of this study is limited to updating the 2002 UW System\u00a0economic impact study and reporting the economic impact of UW System\u00a0campuses, related organizations and activity, startups, and other major\u00a0contributors. As reported earlier, that economic impact is over $24 billion\u00a0annually based upon data from fiscal year 2016-17.<\/p>\n<p>However, the economic impacts not included within the scope of this study\u00a0likely far outweigh those reported here, including:<\/p>\n<ul>\n<li>Wisconsin workforce\/talent base<\/li>\n<li>Wisconsin tax base<\/li>\n<li>Wisconsin research and innovation<\/li>\n<\/ul>\n<blockquote><p>One year after graduation,\u00a091% of UW System graduates\u00a0live in Wisconsin.<\/p><\/blockquote>\n<h3>Wisconsin Workforce and Talent Base<\/h3>\n<p>In 2016-17, UW System campuses conferred a total of 27,459 bachelor\u2019s\u00a0degrees. Surveys from prior-year graduating classes indicate that a\u00a0very high percentage of recent graduates stay and work in Wisconsin.\u00a0For example, 91% of 2013-14 bachelor\u2019s degree recipients lived in\u00a0Wisconsin one year after graduation. This stream of college graduates\u00a0adds to the talent base of Wisconsin\u2019s workforce and provides skilled\u00a0employees for Wisconsin businesses (see map).<\/p>\n<p>Additional data also show that UW System graduates with bachelor\u2019s\u00a0degrees are filling key shortages in health care, science, and\u00a0engineering fields. In 2016-17, there were 9,716 science, technology,\u00a0engineering, and math (STEM) graduates and 3,460 health\u00a0care graduates.<\/p>\n<p><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig_Map-UWSystem-Alumni.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1102\" src=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig_Map-UWSystem-Alumni.jpg\" alt=\"Image of U.S. map showing where UW System alumni live - Bachelors degree recipients by address in 2015\" width=\"960\" height=\"692\" srcset=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig_Map-UWSystem-Alumni.jpg 960w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig_Map-UWSystem-Alumni-300x216.jpg 300w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig_Map-UWSystem-Alumni-768x554.jpg 768w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><\/p>\n<h3>Wisconsin Tax Base<\/h3>\n<p>UW System graduates add to the earning power and tax base of the State of Wisconsin. Data\u00a0shows college graduates earn approximately $1 million more than high school graduates over\u00a0their careers and have significantly lower unemployment. These higher earnings produce tax\u00a0revenue for the state, counties, and other units of Wisconsin government through a variety of\u00a0taxes, including income tax, sales tax, property tax, and more (see Figure 6).<\/p>\n<p><em><strong>Figure 6. Earnings and Unemployment by Educational Attainment<\/strong><\/em><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig6_Earnings-and-Unemployment-by-Educational-Attainment-e1534446819647.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1105 size-full\" src=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig6_Earnings-and-Unemployment-by-Educational-Attainment-e1534446819647.jpg\" alt=\"Image of Figure 6. Earnings and Unemployment by Educational Attainment: Unemployment Rate Percent followed by Median Usual Weekly Earnings in Dollars: Doctoral degree 1.6, $1,664; Professional degree 1.6, $1,745; Masters degree 2.4, $1,380; Bachelors degree 2.7, $1,156; Associate degree 3.6, $819; Some college but no degree 4.4, $756; High school diploma 5.2, $692; Less than a high school diploma 7.4, $504\" width=\"583\" height=\"227\" srcset=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig6_Earnings-and-Unemployment-by-Educational-Attainment-e1534446819647.jpg 583w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/Fig6_Earnings-and-Unemployment-by-Educational-Attainment-e1534446819647-300x117.jpg 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/a><\/p>\n<h3>Wisconsin Research and Innovation<\/h3>\n<p><a href=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/031116176_cropped-web.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-1108 size-medium\" src=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/031116176_cropped-web-300x196.jpg\" alt=\"Photo of researcher\" width=\"300\" height=\"196\" srcset=\"https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/031116176_cropped-web-300x196.jpg 300w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/031116176_cropped-web-768x501.jpg 768w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/031116176_cropped-web-1024x668.jpg 1024w, https:\/\/www.wisconsin.edu\/economic-development\/wp-content\/uploads\/sites\/145\/2018\/08\/031116176_cropped-web.jpg 2000w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>The UW System is a major source of research and innovation. More than $1 billion of sponsored research activity occurs on UW System campuses\u00a0each year. The output of much of that research benefits citizens and businesses in Wisconsin, as well as across the nation.<\/p>\n<p>Three affiliated UW System organizations are particularly important to innovation in the Wisconsin economy. The oldest and largest of these organizations is the Wisconsin Alumni Research Foundation (WARF).<\/p>\n<p>Established in 1925, WARF facilitates the technology transfer needs of UW-Madison. From the discovery of Vitamin D to groundbreaking work with\u00a0stem cells, WARF continues to convert UW-Madison research into commercial products or applications.<\/p>\n<p>Of growing importance in the innovation space are the UW-Milwaukee Research Foundation (UWMRF) and the WiSys Technology Foundation\u00a0(WiSys). Both foundations are approximately 20 years old and they serve the technology transfer needs of UW-Milwaukee and the UW System\u00a0comprehensive universities. Both foundations are ranked in the top 130 technology transfer organizations in the United States.<\/p>\n<p>Ideas that lead to new or better products and services come from UW System campuses around the state thanks to the support of\u00a0these foundations.<\/p>\n<\/div>\n\t\t\t<\/div><\/div><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t","protected":false},"excerpt":{"rendered":"","protected":false},"author":44,"featured_media":0,"parent":895,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-910","page","type-page","status-publish","hentry","cfct-can-haz-build"],"_links":{"self":[{"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/pages\/910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/comments?post=910"}],"version-history":[{"count":21,"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/pages\/910\/revisions"}],"predecessor-version":[{"id":1110,"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/pages\/910\/revisions\/1110"}],"up":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/pages\/895"}],"wp:attachment":[{"href":"https:\/\/www.wisconsin.edu\/economic-development\/wp-json\/wp\/v2\/media?parent=910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}