U of M president gives overview of institution’s statewide impact

University of Minnesota officials have announced plans to seek a nearly $150 million base budget increase in the upcoming biennium.

Weeks before the request is expected to be formally presented to the House Higher Education and Career Readiness Policy and Finance Committee, University President Eric Kaler provided an overview of the institution’s statewide impact.

“By every measure we are a top-10 university among our peers,” he said Tuesday.

WATCH Full video of the University of Minnesota's presentation to the higher education committee

Kaler said the university generates $8.6 billion in economic impact a year; alumni have founded nearly 10,000 businesses across the state (of those, 2,300 moved to Minnesota for their education); and the Twin Cities and Rochester campuses have four-year graduation rates above 60 percent. However, he noted 43 percent (Twin Cities) and 19 percent (Rochester) of those students graduate with debt.

The university consists of five campuses across the state: Twin Cities, Duluth, Crookston, Morris and Rochester. It offers 900 different major and certificate programs. More than 67,000 students are enrolled, with 15,000 degrees awarded annually. Its current operating budget is $3.6 billion.