Hunter
03/17/26
A new economic impact report published by the Iowa Board of Regents shows the value of the University of Iowa, Iowa State, and the University of Northern Iowa to the state.
The report, which covers the 2023-24 budget year, shows the three universities added a combined $18 billion to Iowa’s economy. The Gazette reports that amounts to 7.7 percent of Iowa’s total gross state product.
Individually, Iowa adds $9.8 billion; Iowa State, $6 billion, and UNI $1.6 billion.
Hannah Ruffridge, an economist with labor market analytics firm Lightcast, told regents last month that roughly one out every 10 jobs in Iowa is supported in some way by the universities and their students.
The report also shows financial impacts from start-up and spin-off companies created and supported by the universities, and spending by UI Health Care, operations, construction, and visitor spending.
The economic impact has been rising; the first study analyzing the 2017-2018 budget year showed the figure at $11.8 billion.
A link to the 123-page report:
https://www.iowaregents.edu/media/cms/IBOR_EIS_MainReport_FY24_Final_A34BC4F81D965.pdf