Michigan's 15 public universities generated $23.9 billion in overall economic activity last year according to a new report from the Anderson Economic Group commissioned by the President's Council, State Universities of Michigan.
The report found public universities to be key employers and economic drivers of the state, responsible for more than 120,000 Michigan jobs.
"This new report shows just how important our public universities are to Michigan's economy," said Betty J. Youngblood, interim president of Oakland University. "Enrollment is growing here at Oakland and we continue to attract some of the brightest students from Michigan, across the country and around the world. Each new student makes a significant economic impact to the area."
The report found that Oakland University students contributed more than $284 million to the overall economy with nearly $277 million of that number staying in Michigan.
Oakland University also contributed nearly $168 million to Michigan's economy through payroll spending on salaries, wages and employee benefits.
Another $74 million in Michigan spending came from OU construction projects, research, student services, academic support, athletics and other non-payroll spending in 2012.
The state of Michigan ranked sixth among the states in public university enrollment with more than 300,000 students during 2012. The study also found enrollment growing 5 percent between 2003-2012 and bachelor degree completions increasing, despite a shrinking state population and major cuts in state support per student.
The full report is available at www.pcsum.org