UConn report: University generates $5.3 billion in economic activity in the state

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STORRS, Conn. (WTNH) — Governor Ned Lamont joined with the new president of UConn on Monday, touting a new report that shows that the school has a far-reaching impact on the state economy.

It costs the state about $3 billion a year to operate UConn, which includes the main campus at Storrs and the ones in Hartford, Stamford, Avery Point, and Waterbury, plus the medical center.

The UConn economics department has run the numbers and said for that $3 billion investment UConn generates more than $5 billion in economic activity throughout the state, including nearly 26,000 jobs and about $277 million in state and local tax revenue.

“I think we have a social contract with the citizens of the state and an obligation,” said UConn President Tom Katsouleas. “The citizens support us, the legislature supports us, and we have an obligation to share back with both of them.”

Monday the university launched a new interactive website to show how every community benefits.

For instance, New Haven: Where there are over 350 UConn students, more than 50 UConn employees, and more than 1,300 alumni. Even a small town like Guilford has over 150 UConn students, 17 UConn employees, and more than 1,000 alumni.

“We want to educate people for a 21st-century workforce,” Governor Lamont said. “We also want to educate good people and hopefully engage citizens.”

“More engineers graduate from one university, UConn, than from all the other universities in the state, public or private combined,” Katsouleas added.

So, does all this mean that the new UConn president is asking the governor and the legislature for more funding in the upcoming General Assembly session?

Katsouleas said they are asking the legislature to just keep the block grants steady and allow them to finish the capital projects that are currently underway to keep the school’s growth going.

The entire report can be found online.

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