Economic impact of Auraria Campus pegged at $2.7 billion

The Auraria Campus Higher Education Center, a state entity, home to the Community College of Denver (CCD), the Metropolitan University of Denver (MSU Denver), and the University of Colorado Denver (CU Denver) – had a combined economic impact of $2.7 billion to the local and state economy in 2023, according to an economic contribution analysis released today. The study further concludes that the economic activity of the combined campuses supported or sustained 19,723 jobs annually.

“The economic impact of alumni living and working in Colorado demonstrates the importance of training and retaining a skilled workforce,” said Colleen Walker, CEO of the Auraria Campus.

The study was commissioned by the Auraria Campus and was conducted by Parker Strategy Group, a nationally recognized consulting firm specializing in economic impact. “An economic contribution analysis is an objective way to measure the significance of a college or university on the economy; it is a tool that policymakers can use to inform their decisions about the importance of higher education,” said Nichole Parker, managing principal at Parker Strategy Group. “The Auraria Campus is a unique model that makes a major economic and societal contribution to their local, state, and regional economies. The impacts showcased in this report demonstrate how collaboration can yield true economic results.”

In the analysis, the study considered the direct spending on operations, pay, benefits, and capital projects by the Auraria Campus, CCD, MSU Denver, and CU Denver and the estimated increase in demand for goods and services in industry sectors that supply or support these institutions. The study also measured the effect of student spending, visitor spending, and the induced effect of increased household income.

Among the findings in the study:

• The $2.7 billion total economic impact of the Auraria Campus in 2023 included $1.4 billion in operational and capital spending and $1.3 billion in impact generated from student and visitor spending in 2023 within the state of Colorado.
• The $1.4 billion in operations impact includes $659.8 million in direct spending and $753.2 million in indirect and induced spending. This impact is the result of operational spending, capital spending, payroll and benefits paid to employees, student spending, and visitor spending.
• In addition to the significant impact of campus operations, the report also found that the income being added to the economy due to the impacts of graduates obtaining post-secondary credentials is significant. Research conducted with alumni from all three institutions and other college graduates in Colorado showed that graduates from institutions on the Auraria Campus earn an additional $5.6 million throughout their respective careers as compared to other Colorado-based higher education institutions. Operations, student, and visitor spending support and sustain a combined employment impact of 19,723 jobs in Colorado. A total of 13,174 jobs are supported on the Auraria campus, and 6,549 jobs are supported off campus.
• Through its local spending and the jobs it supports or sustains, the Auraria Campus generates nearly $151.4 million in state and local taxes.
• The employees on the Auraria Campus give $29 million annually in charitable donations and volunteer hours.

The full report is available here.