By Kristina LeVan, UW-Madison
With an annual statewide impact of $30.8 billion, the University of Wisconsin–Madison is a major contributor to Wisconsin’s economic growth, particularly when it comes to job creation and workforce development, according a new white paper developed by NorthStar Analytics as part of the 2021 UW–Madison economic impact report.
Every year thousands of UW–Madison graduates join Wisconsin’s workforce, filling jobs in high-demand fields like technology, engineering and math as well as health care. The white paper notes that alumni of the university stay in the state in high numbers, contributing to accelerated spending and income and sales taxes that help Wisconsin provide services to residents of all income levels. Nearly 80 percent of 2018 graduates continue to live and work in Wisconsin three years after graduation. The state also retains roughly 10 percent of Minnesota reciprocity and nonresident students each year.
UW–Madison has become an important generator of new businesses as well. With a focus on research breakthroughs and entrepreneurship, the university produces graduates who start businesses in Wisconsin and further contribute to the growth of the state’s economy. Over the last three decades, the university has helped create more than 400 startups, many of them not only surviving the recession but continuing to grow at a fast pace. Read more …