MINNEAPOLIS -- A new study finds the University of Minnesota has a multi-billion-dollar-impact on the state's economy.
The university's foundation paid Pittsburgh-based Tripp Umbach about $48,000 to conduct the study.
The report finds the university had a direct and indirect economic effect on the state of $8.6 billion last year. For every dollar of state spending, the study finds the university generates a return of $13.20.
The Star Tribune reports universities across the country are using similar reports to push back against dwindling state funding. Tripp Umbach also has studied the economic impact of the University of Iowa and the University of Washington, among others.
The report was previewed Monday. A full report will be given at a university Board of Regents meeting next week.
(Copyright 2011 by The Associated Press. All Rights Reserved.)