“We are unified in our drive to serve Minnesota.”

The final nine words of our mission statement are a rallying cry.

As president, I am proud of the fact that our University has such a strong national reputation, with global impact that extends across continents. But I also have deep admiration for the way our students, faculty, staff, and alumni prioritize the North Star State.

Our work is reflected across all 87 counties, and we remain steadfast in our commitment to building a stronger, healthier, and more prosperous Minnesota for generations to come.

That commitment spans more than 170 years, and over time, the University has cemented its role as one of Minnesota’s most powerful economic engines. This is certainly reflected in our latest economic impact study.

According to nationally recognized consulting firm Tripp Umbach, the U of M generates $11.5 billion in annual economic impact for the state—up from $8.6 billion in 2017.

For every $1 of state investment, the University returns $16.75 to Minnesota. And as Minnesota’s fifth-largest employer, the University supports more than 89,000 jobs and generates $676 million in state taxes.

These numbers are impressive, but it’s worth noting the University’s return on investment extends well beyond just dollars and cents. The University plays an invaluable role in educating Minnesota’s future workforce, ensuring students have the knowledge and skills to take on leadership roles in clinics, fields, classrooms, communities, and C-suites.

Success shows in our career placement rates, like in Crookston, where 93 percent of students find a job in their field within a year of graduation. And systemwide, nearly half of our students graduate with no debt at all.

While many of our peers across the country struggle to keep students in state after graduation, about 66 percent of ours stay and work here in Minnesota. This equates to about 366,000 alumni—and in 2024, this group generated $78.5 billion in economic impact across Minnesota.

Beyond our educational mission, our world-renowned research enterprise continues to spark new innovations and discoveries that spur economic impact . . . to the tune of $3.9 billion per year.

Since 2006, we have helped launch more than 270 startup companies based on University research. Those companies have gone on to create more than 1,500 new jobs—1,000 of which are based in Minnesota.

One of those startups is Niron Magnetics, which specializes producing components for green technologies like electric vehicle motors, wind turbines, and energy efficient consumer electronics. Niron selected Sartell, Minnesota, as the site for its 150,000-square-foot manufacturing plant, which is projected to bring 175 new jobs to the region.

As the state of higher education in our country reaches an inflection point, it is important to remember that institutions like the University of Minnesota are not simply centers of learning. We are a powerful engine of economic growth that drives progress and prosperity, all for the betterment of people and communities across Minnesota and beyond.

Rebecca Cunningham
President

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