The University of Denver (DU) wanted to articulate its mission and goals in economic and social impact terms, and to quantify the total economic impact at local, regional, and state levels. DU is a private, not-for-profit R1 research institution with a main campus just south of Denver, CO.
ESI used industry-standard IMPLAN modeling software to calculate direct, indirect, and induced economic impacts from DU’s annual operations, capital investments, ancillary spending by students, visitors, and athletics, and the alumni wage premium. IMPLAN software also calculates full-time employment equivalents (FTE). The alumni wage premium represents the average difference in wages between college graduates and those with less education.
ESI also noted the value of local engagement and impact as well as that of broader societal impacts.
ESI found that the school generated $1.3 billion of total economic impact within the city of Denver and $2.3 billion in the state of Colorado, generating $6 and $38 million in tax revenue, respectively. Additionally, DU supports 6,900 jobs in Denver and 11,800 in the state, with $562 and $825 million in compensation, respectively.
Regarding local impact, ESI found that over 95% ($280 million) of DU’s salaries and wages are paid to people living in Colorado, and approximately 73% of in-state employees live in Denver.
DU also strengthens the regional workforce, as 75% of its students come from out of state and 70% of alumni stay in the state following graduation.