Report uncovers UNM’s $5.2 billion economic impact during Academic Year 2022
December 1, 2023
A new report was released today analyzing the entire University of New Mexico system and quantified its impact on the New Mexico economy during academic year 2022.
As one of New Mexico’s major employers, UNM enhances workforce productivity, improves quality of life, stimulates innovation, and drives economic growth statewide. The entire UNM system is vast and includes Albuquerque Main Campus, Health Sciences Center, Sandoval Regional Medical Center in Rio Rancho, and the four branch campuses in Taos, Valencia County, Los Alamos, and Gallup.
The report, titled “The Statewide Economic Impact of the University of New Mexico,” analyzed data from academic year 2022 and worked to quantify the entire UNM system’s economic impact. The report investigated four major components of UNM’s contributions to the New Mexico economy, including university operations, student expenditures, alumni human capital, and technology transfer. These four components accounted for 47,053 jobs, $1.9 billion in labor income, and $5.2 billion in economic output.
“The Statewide Economic Impact of The University of New Mexico Report, based on data from the 2022 academic year, clearly shows that UNM is making a large economic contribution to our state and continues to drive economic and social prosperity,” said UNM President Garnett S. Stokes. “One thing is clear, The University of New Mexico is one of the state’s most valuable assets. As the state’s flagship university, we provided a staggering $5.2 billion in economic output in academic year 2022. That translates into real economic progress and prosperity not just for Lobos, but for all New Mexicans. We truly are The University for New Mexico, and very proud of that.”
Lisa Kuuttila, CEO & Chief Economic Development Officer, added, “It’s remarkable to see quantifiable data on the university’s activities because it shows just how much the university does for our state. We are especially encouraged by data on the research activities at UNM that power our local innovation ecosystem. Our mission at UNM Rainforest Innovations is to foster a Rainforest in the Desert by nurturing innovation and catalyzing economic development. This report shows a clear positive economic output spurred through commercializing inventions and fostering the creation of startup activities.”
Read more in the UNM Newsroom
