The University of Missouri–St. Louis contributes more than $522.5 million to the economy in the St. Louis metropolitan area in addition to the vital role it plays developing the region’s workforce.
The University of Missouri–St. Louis plays a critical role developing the professional workforce in St. Louis and is also a key driver of economic development throughout the region.
A new report from nationally recognized consulting firm Tripp Umbach helps quantify that impact. The underlying analysis shows that UMSL contributed more than $522.5 million to the region’s economy in fiscal year 2023 when combining direct spending with indirect economic activity that results from the university’s presence.
UMSL provided direct support for 2,904 jobs – both full-time and part-time – while its expenditures on capital projects, development and planning initiatives, and suppliers contributed to another 3,794 jobs across the metropolitan area.
“The University of Missouri–St. Louis contributes to the success of St. Louis in so many ways, starting with the high-quality education we provide our students,” Chancellor Kristin Sobolik said. “But this report demonstrates how far beyond the classroom the university’s impact can be felt as it spurs economic activity and job creation.
“The full impact of the university on the economic health and wellbeing of the region is far greater when accounting for the contributions of our more than 80,000 alumni who call it home.”
The analysis estimated that UMSL alumni contribute $14 billion to the economy in metropolitan St. Louis, including nearby counties in Illinois, and have an impact of $14.3 billion across the state of Missouri.
On the heels of its 60th anniversary celebration in 2023, UMSL leaders wanted a more tangible way to demonstrate the university’s importance to St. Louis. They engaged Tripp Umbach to look not just statewide, as in previous economic impact reports, but at the impact the university has on the St. Louis metropolitan area, which includes the city of St. Louis and St. Louis County, as well as a total of 14 surrounding counties in Missouri and Illinois. St. Louis remains the most economically dynamic region in Missouri and accounts for approximately 45% of the Missouri’s gross domestic product.
The total economic impact measures the dollars generated within a specified region because of the presence of UMSL. That includes not only spending on goods and services with vendors and the spending of its staff and visitors but also the business volume generated by businesses within the region that benefit from the spending and operations of the university.
UMSL brings economic activity and jobs
UMSL’s statewide impact – $555.1 million – represented a 29% increase from the last economic impact report commissioned by the University of Missouri System, which used data from fiscal year 2021 and was released in 2022. It included $28.9 million generated in state and local taxes.
The report also looks more granularly at the economic contributions of the university to St. Louis County, the city of St. Louis and the 22 ZIP codes that make up the focused geography of the St. Louis Anchor Action Network, which UMSL helped launch with co-lead Edward Jones in 2021.
Of the $522.5 million UMSL contributed to the St. Louis economy, $248.2 million could be connected to St. Louis County. Another $176.3 million was connected to the city of St. Louis. UMSL supported and sustained 3,181 jobs in St. Louis County and 2,261 jobs in the city. UMSL students and employees also donated an estimated $23.2 million in voluntary time across the St. Louis region during FY23.
The St. Louis Anchor Action Network has placed a focus on increasing hiring and procurement in St. Louis neighborhoods that have faced decades of disinvestment in alignment with Greater St. Louis Inc.’s 2030 Jobs Plan. As part of that effort, UMSL has been making intentional and targeted investments in the 22 ZIP codes that make up the Network’s focused geography.
The report shows that UMSL’s efforts had an impact totaling $91.4 million while supporting and sustaining 1,172 jobs in those communities.
