Together, Michigan’s 15 public universities generate nearly $45 billion in net new economic activity each year, according to a new independent economic impact study released by the Michigan Association of State Universities.
Michigan Technological University generated over $972 million in total economic impact during fiscal year 2024, a significant contribution to a robust public university ecosystem in Michigan that delivers exceptionally high returns on state investments.
Michigan universities as a whole support more than 127,000 jobs statewide and contribute more than $7 billion in state tax revenue, according to the study from the Michigan Association of State Universities, or MASU, which examined the economic effects of university operations, student spending, research activity and alumni earnings. The analysis was conducted by Anderson Economic Group using fiscal year 2024 data and released as state policymakers begin work on the 2026 legislative session and budget process. It reinforces the role of public higher education as a high-return investment in Michigan’s workforce, research and development ecosystem and long-term economic competitiveness.
“These findings make clear that Michigan’s public universities are not just educating students—they are fueling the state’s economy, strengthening communities and positioning Michigan to compete nationally and globally,” said Rick Koubek, president of Michigan Tech and chair of the MASU Board. “Whatever the need, Michigan has a public university to meet the challenge.”
The MASU study shows that Michigan’s public universities generate economic activity far exceeding the state’s annual investment in higher education. In fiscal year 2024, the nearly $45 billion in net new economic activity generated by Michigan’s public universities was almost 28 times the state’s $1.6 billion appropriation for those institutions.
Research Universities for Michigan (RU4M) provided additional analysis pointing to the importance of Michigan’s four R1 research universities—Michigan State University, Michigan Technological University, the University of Michigan and Wayne State University—as key contributors to the state’s economy and innovation ecosystem, with impacts reaching communities across Michigan. During fiscal year 2024, RU4M institutions conducted more than $3.1 billion in academic research, attracting billions of dollars in federal and industry research funding from outside the state. That research activity generated more than $950 million in economic activity within Michigan.
"These reports underscore a simple truth: Investing in Michigan's public universities isn't just good education policy—it's smart economic policy."
The economic impact also extends through alumni who live and work in Michigan. The state’s 1.6 million living public university alumni generated more than $15 billion in incremental earnings due to having earned a degree from a Michigan public university.
University-related economic activity produced more than $7.1 billion in state tax revenue, including personal income tax, sales and use tax, and transportation taxes paid by employees, students and alumni living in Michigan.
The study also found that Michigan public university graduates earn nearly twice as much as peers without a college degree, with average earnings of $91,073 for individuals ages 25-34, compared to $46,272 for high school graduates.
Michigan Technological University is an R1 public research university founded in 1885 in Houghton, and is home to nearly 7,500 students from more than 60 countries around the world. Consistently ranked among the best universities in the country for return on investment, Michigan's flagship technological university offers more than 185 undergraduate and graduate degree programs in science and technology, engineering, computing, forestry, business, health professions, humanities, mathematics, social sciences, and the arts. The rural campus is situated just miles from Lake Superior in Michigan's Upper Peninsula, offering year-round opportunities for outdoor adventure.
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