The University of Illinois Springfield added $943.2 million to the Illinois economy during fiscal year 2023, according to a new economic impact study conducted by Lightcast, a nationally recognized labor market analytics firm. The report highlights UIS as a major driver of economic growth and opportunity in central Illinois and across the state.
The analysis found that UIS supports 9,093 jobs statewide through operations, student and visitor spending, volunteer contributions and the increased productivity of alumni. The largest single impact comes from UIS graduates, whose higher earnings and contributions to Illinois businesses added $847.9 million to the state’s economy in 2023.
“UIS plays an essential role in preparing students for high-demand careers while strengthening the region’s workforce and economy,” said UIS Chancellor Janet L. Gooch. “This report shows the tangible value our university brings to taxpayers and communities across Illinois, demonstrating that an investment in UIS pays dividends for everyone.”
The study shows UIS’ value extends well beyond its campus. UIS operations spending, including payroll, contributed $80.4 million to the state economy, supporting 1,119 jobs. Student spending added $11.6 million, while visitors attending UIS events added $797,000 in income to the state’s economy.
The report also highlights significant returns on investment for both students and taxpayers:
- For every $1 students invest in their UIS education, they gain $5.70 in higher lifetime earnings.
- For every $1 of public funding invested in UIS, taxpayers see $3.50 in added tax revenue and public sector savings.
- Society as a whole receives $9.90 in benefits for every $1 invested in UIS.
A UIS bachelor’s degree substantially increases earning potential. Graduates earn an average of $33,900 more annually than Illinois workers with a high school diploma, amounting to $1.3 million in additional lifetime earnings per graduate.
“These findings affirm UIS’ role as a vital partner in driving workforce development and economic opportunity,” Gooch said. “Our graduates remain in Illinois, contribute to local communities and help meet the state’s evolving workforce needs. UIS is proud to be part of that growth and impact.”