A study released this week suggests the University of Rhode Island generates nearly $2 billion a year in economic impact for the state.
The state’s flagship university generates almost 18,000 jobs and produces over $135 million in tax revenue, according to the report.
The university paid consulting firm Tripp Umbach to conduct the study, which breaks the economic drivers into direct and indirect buckets of impact. For example, the study says URI generates $539.9 million in direct economic impact and $1.46 billion in indirect impact; it creates 5,300 jobs directly and supports the creation of more than 12,400 jobs indirectly.
Driven by research, workforce development, and government and community partnerships, the study shows URI is one of the state’s primary economic drivers. President Marc Parlange joined Ocean State Media morning host Luis Hernandez to discuss how URI fosters economic growth.
Interview highlights
On URI’s economic impact on the state
Marc Parlange: First of all, it’s important to remember that the University of Rhode Island is the state’s university. We are the flagship public research university. We play a central role in basically building and strengthening Rhode Island’s economy. In a big part, we are preparing the workforce of the future, but we’re also attracting companies. We attract companies that want to hire our students, that want to do research with us and that want to collaborate.
On URI’s economic impact on South County
Parlange: In Washington County or in South County, it’s some $960 million and we support more than 8,500 jobs. So we are a huge part of the economy of the southern part of the state of Rhode Island and that’s, in many ways, where we have the biggest outside impact, I would say, on the state.
On the precariousness of federal research funding
Parlange: We’ve heard a lot from schools like Harvard, Brown, Yale and so forth. We were hit quite hard, as well, on our research grants. We lost some $50 million worth of research funding that was coming in, but we have a fantastic faculty and staff here. And so despite those challenges, we’ve actually seen year-on-year increases in funding. We’ve seen more grants either coming out directly from URI or in collaboration with other universities and institutions. So the numbers that are coming out on the federal grants are going up, and that’s a reflection of really the quality, I would say, of our faculty and of our graduate students.
On his outlook for the future of URI
Parlange: I’m very optimistic about the role that the universities have played. This is a tough time. I will be honest; I’m quite concerned about some of the changes that are coming out of the Big Beautiful Bill in terms of support that families have needed for scholarship support. What’s tough is the challenge that we have to be accessible for students, and that’s why URI, in our DNA since 1968, we’ve made pathways for talented students to come from the state of Rhode Island to URI and support them. So we’re going to stick to our mission, to our values, to what makes U-R-I, U-R-I, but there are going to be challenges. The federal loans programs for students that are in need is going to be hurtful and impactful for us come this July.
