University of Denver's $2.3 billion annual impact raises questions on funding priorities

The University of Denver has announced that it significantly contributes to the state’s economy, generating an astounding economic impact of $2.3 billion per year. This finding was released in an economic impact report dated December 10, 2024, highlighting the university’s two-campus learning model that serves both academic excellence and community development. In the city of Denver alone, DU's impact is estimated at $1.3 billion. Chancellor Jeremy Haefner emphasized the importance of such contributions, especially in the current climate where the role of higher education is under scrutiny. The university employs around 11,800 full-time individuals, thereby directly affecting employment in Colorado. Additionally, DU provides tax revenues amounting to $38 million for the state and $6 million specifically for the city of Denver. DU’s alumni also play a substantial role in the economic ecosystem, contributing another $986 million and generating $26 million in tax revenue. The report reinforces the university’s stature as a vital pillar in local and state-wide growth based on education and research. Further, University of Denver serves over 13,400 students who partake in diverse academic programs, with 70% of graduates staying in Colorado to work, thus ensuring a continual contribution to the local economy. The university’s presence also attracts visitors, with events drawing significant crowds, such as commencement and sporting events that together bring more than 300,000 visitors to the campus each year. This illustrates the wide-reaching influence that the University of Denver has, both economically and socially, within Colorado. Overall, the report is a validation of the university’s longstanding commitment to the state, promising a sustained positive impact on the local economy and community at large. Governor Jared Polis recognized the vital contributions of institutions like DU, underscoring their role in educational excellence and implications for economic development.