The University of Illinois System pumps $19 billion annually into the Illinois economy — including $9.4 billion from UIC — and supports 164,200 jobs, which accounts for one in every 46 jobs across the state, according to a new economic impact study released in 2022.
The study found that UIC contributes $9.4 billion annually to the state’s economy. That accounts for 1.1% of the state’s total gross state product (GSP). The university supports 76,968 jobs, representing one of every 97 jobs across the state.
For every dollar that UIC students put into their education, they receive $5.90 in career earnings – a 17.1% percent annual return. The average bachelor’s degree graduate will earn $30,100 more annually than a high school graduate.
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$ 9 B added by UIC to the Illinois economy, more than any other university in the UI System.
76,968 jobs One out of every 97 jobs in Illinois is supported by UIC.
$ 338 M added to the Illinois economy in FY 2021 by startup companies related to UIC.
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$ 2.70 added tax revenue gained by taxpayers for every dollar invested in UIC.
$ 483 M added income to the Illinois economy generated by UIC research spending, the equivalent of supporting 3,610 jobs.
$ 5.90 in higher future earnings received by students for every dollar they invest in a UIC education.