The University of Maryland System
The University of Maryland, Baltimore generates $15.11 in economic activity for each $1.00 appropriated.
The University of Maryland System includes 15 institutions around the state. The flagship campus is the University of Maryland, College Park (UMCP), which makes many important contributions to the state’s economy, business climate and quality of life. The university is a major source of economic activity in the state and has the following impacts:
- Total UMCP expenditures of $813.3 million are leveraged with an additional $1 billion in indirect “multiplier-effect” spending for a total economic impact of just under $1.8 billion on the Maryland economy.
- In addition to UMCP’s 16,759 employees, the university’s construction spending of $99.1 million creates an additional 1,121 construction-related jobs. Furthermore, there are an additional 21,126 jobs created by the university’s indirect “multiplier-effect” economic impacts for a total of 39,006 jobs directly or indirectly supported by the university. These jobs represent more than 1% of all jobs in Maryland.
- UMCP generates $5.93 in economic activity for every $1.00 appropriated.
UMCP also makes important contributions to the business climate in Maryland. The university’s sponsored research revenues have more than doubled over the past decade and the university accounts for 52% of public university research and development in Maryland. This research is an important source of new ideas and technologies to Maryland businesses. The university accounts for 84% of technology licensing activity by major Maryland public universities and 67% of all public university income from technology commercialization. Sixteen companies are currently in operation to develop university technology and 13 of these companies are located in Maryland.
In addition to the University of Maryland, College Park, the University of Maryland, Baltimore (UMB), is the flagship public provider of health and professional educational services in Maryland. UMB provides a major source of economic activity by purchasing of goods and services from Maryland suppliers and the salaries to its Maryland workforce, and providing a skilled and educated workforce. Additionally, UMB supports economic development in the state through the commercialization of new technologies.
Total UMB spending of $1.15 billion generates more than $1.4 billion in indirect economic impacts for a total impact on the Maryland economy of nearly $2.6 billion. Direct UMB employment totals 6,572 jobs and is augmented by an estimated 18,630 jobs supported or created through indirect impacts, for a total employment impact of 25,202 jobs. There is a total of more than $1.1 billion in salaries and wages associated with these jobs. The combined state and local fiscal impact of the wages and salaries paid to university employees or the employees supported by the university’s operations is $61.4 million in fiscal 2008. 6
6 THE JACOB FRANCE INSTITUTE, MERRICK SCHOOL OF BUSINESS, UNIVERSITY OF BALTIMORE. “THE ECONOMIC IMPACT OF THE UNIVERSITY SYSTEM OF MARYLAND.” FEBRUARY 2002.
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The “ask” of this site is a simple one: establish a new $50 billion education investment fund in teaching and research facilities for colleges and universities. The result would be the creation of more than 1 million immediate jobs that will support the education and betterment of hundreds of thousands of Americans, while also stimulating our economy for years to come. Take Action Now
