The University of Colorado (CU) system contributed $12.2 billion to Colorado’s economy during the 2024-25 fiscal year, according to a new study by the Business Research Division at CU Boulder’s Leeds School of Business. This figure marks an increase of over $500 million from the previous year.
The annual report breaks down the economic impact by campus. CU Anschutz in Aurora led with $5.7 billion, followed by CU Boulder at $5 billion. CU Denver and UCCS contributed $665 million and $567 million, respectively, while CU system administration added $245 million.
When including the economic activity generated by UCHealth University of Colorado Hospital and Children’s Hospital Colorado—both located on the Anschutz campus—the total rises to $20 billion for the year.
“The University of Colorado plays a vital role in shaping our state’s future,” said CU President Todd Saliman. “Every day, our campuses and partners contribute to Colorado’s prosperity through education, research, innovation and health care. This report highlights the real impact CU has on people’s lives and the real and economic health of communities across the state.”
The report notes that this year’s total represents a 5.2% increase over last year’s $11.6 billion figure. Including hospital activity, overall growth was 3.6%, up from $19.3 billion last year.
For fiscal year 2024-25, CU reported revenues of $6.6 billion and operating expenditures totaling $5.8 billion. Major sources included sponsored research, tuition and fees, as well as health services; sponsored research alone accounted for $1.7 billion.
Economic impact calculations considered earnings for employees and student workers, operational spending, construction projects, research activities, as well as spending by students and visitors. The study did not factor in alumni or retiree impacts, technology transfer outcomes, or events such as athletics or conferences.
During this period, CU directly employed 51,848 people with total compensation reaching $4.3 billion—making it the third-largest public employer in Colorado.
CU supports local economies through vendor purchases, attracting investments, educating workers, and driving research discoveries; research expenditures made up nearly half ($5.6 billion) of its total economic impact.
Regionally, CU had its largest effect on the Denver Metropolitan Statistical Area (MSA), which includes several counties such as Denver and Arapahoe; here its impact was measured at $7.1 billion. The Boulder MSA saw an impact of $4.2 billion while Colorado Springs MSA registered approximately $600 million.
The university also promotes innovation statewide through initiatives like Venture Partners at CU Boulder and CU Innovations at Anschutz Medical Campus; these programs helped launch more than 35 startups and secure over 90 licensing agreements during the reporting period.
With about 68,000 students enrolled annually and nearly 19,000 graduates each year entering the workforce, CU continues to play a significant role in building Colorado’s skilled labor pool.
“Our graduates, researchers and employees are the backbone of this state’s economy,” Saliman said. “Their expertise and innovation are what power Colorado’s progress and resilience.”
