March 7, 2008
UMS reports heavy duty impact
The University of Maine System today released its 2007 annual report, which claims the institution had a $1.5 billion economic impact on Maine in 2007.
The UMS 2007 Annual Report, released today as an insert in newspapers across the state, says the system's 2007 revenues totaled approximately $679 million, of which 29% came from students and 28% came from the state, with the rest coming from other sources. The system also awarded 5,612 degrees, stimulated 3.3% of Maine's domestic gross product, and employed more than 13,000 part- and full-time staff, including faculty and students, according to the report.
The university has used its economic impact numbers recently to protest cuts proposed in the governor's supplemental budget. Gov. John Baldacci wants to shave about $7 million from the university system's budget, but UMS Chancellor Richard Pattenaude claims this will only hurt Maine's economy. The report claims the university system generates $8.10 of economic activity for every $1 appropriated by the state.
The UMS 2007 Annual Report, released today as an insert in newspapers across the state, says the system's 2007 revenues totaled approximately $679 million, of which 29% came from students and 28% came from the state, with the rest coming from other sources. The system also awarded 5,612 degrees, stimulated 3.3% of Maine's domestic gross product, and employed more than 13,000 part- and full-time staff, including faculty and students, according to the report.
The university has used its economic impact numbers recently to protest cuts proposed in the governor's supplemental budget. Gov. John Baldacci wants to shave about $7 million from the university system's budget, but UMS Chancellor Richard Pattenaude claims this will only hurt Maine's economy. The report claims the university system generates $8.10 of economic activity for every $1 appropriated by the state.
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