A new report shows how the University of New Mexico system is making an impact on the state's economy.
The report, titled "The Statewide Economic Impact of the University of New Mexico," examined university operations, student expenditures, alumni human capital, and technology transfer, according to a press release.
"The Statewide Economic Impact of the University of New Mexico Report clearly shows that UNM is making a significant economic contribution to the state and is driving economic and social prosperity even during a global pandemic," UNM President Garnett S. Stokes said in the release. "UNM is one the state’s most valuable assets. New Mexico’s flagship university provides $5.2 billion in economic output, stimulating economic progress and prosperity for all New Mexicans. We truly are the University for New Mexico. And we’re very proud to be your flagship university."
The four components that were analyzed in the report accounted for 40,153 jobs, $2.1 billion in annual labor income, and $5.2 billion in economic output, according to the press release.
UNM brought in nearly half of its revenue in 2020, $1.6 billion, from out-of-state resources that had a direct economic impact within the state, the study found, and net spending from the 4,473 non-resident students totaled $62.4 million.
Included in the study as comprising the UNM system were the Albuquerque Main Campus, the Health Sciences Center, the Rio Rancho Sandoval Regional Medical Center, and branch campuses in Taos, Valencia County, Los Alamos, and Gallup.
