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Home»Investment»Kansas State University touts return on investment and economic impact
Investment

Kansas State University touts return on investment and economic impact

The Elite Times TeamBy The Elite Times TeamFebruary 21, 2024No Comments6 Mins Read
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Kansas State University President Richard Linton sent a message to lawmakers.

“I think it was a pretty smart investment for the state,” Linton told the Topeka Capital Journal ahead of Wednesday’s K-State Impact Day at the Capitol.

Linton said the investment in K-State from the state General Fund will provide approximately $235 million in operational support and $2.3 billion in economic impact in return.

“The overarching message is that higher education, especially at land-grant institutions, is a very good return on investment for the state,” he said.

Kansas State University President Richard Linton speaks about the state's prosperity made possible through the K-State 105 initiative between the university and Network Kansas.

K-State releases new report on its economic impact

University leaders released a new report on K-State’s economic and community impact estimated at $2.3 billion in fiscal year 2023.

“It’s having a huge positive impact on the economy,” Linton said. “By creating jobs and increasing the economic value of our state, we make Kansas a more attractive place to live.”

The university contracted with Tripp Umbach, a private consulting firm, to produce a report measuring the economic impact the university generates. Trip Umbach was one of four bidders and was awarded the contract on Oct. 6, according to the university’s bidding portal.

The report assessed that Kansas State University had an economic impact of $1.69 billion, stating, “For every dollar that K-State University receives from Kansas taxpayers, $8.79 is invested in university operations and programs in the state’s economy.” It is produced by,” he said.

K-State Athletics was recognized with an economic impact of $486.1 million, the K-State Alumni Association was recognized with an economic impact of $12.1 million, and the KSU Foundation was recognized with an economic impact of $59.1 million.

“When you think about athletics, it’s not just about having fun and it’s not just about providing a great experience for our alumni and students,” Linton said. “It also contributes significantly to the return on investment to the economy of universities like Kansas State University.”

The economic impact of K-State Research and Extension is estimated at $383.2 million.

K-State has three main demands for the 2024 Kansas Legislature.

Linton shared with lawmakers that K-State has three major funding requests for 2024 that the governor has included in his budget proposal.

One is $25 million in matching funds to complete a $220 million project that includes 10 agricultural buildings at K-State University.

“It’s all about modernizing the agriculture and food system on campus and making it more attractive, and that’s really what feeds us,” Linton said. “This is about 40% of Kansas’ economy, so if we’re going to make a difference and if we’re going to try to be able to help grow our economy, our Let us harness our power, but let us make our power stronger.” ”

The university is also requesting $5 million in recurring funding for a university-wide interdisciplinary water institute.

“Without water solutions, our agriculture and food industries will face major challenges over the next eight to 10 years,” Linton said. “Without water, there is no crop productivity. And without crop productivity, there is no animal production. Crop productivity and animal production are key and important to a nation.”

K-State is also seeking $2.2 million to pay off debt for its biosecurity lab.

K-State wants to be “relevant” to Kansan people

The university is looking to the future of land grants with its Next Generation K-State Strategic Plan.

“The next generation of land-grant thinking is about incorporating the pillars of land-grant universities – research, education and extension – but building from the ground up based on what communities need today. ” Linton said.

K-State Extension serves all 105 counties and has “for many years focused on community vitality, 4-H youth, nutrition, agriculture and food systems,” Linton said. Ta.

“These are always important issues in our communities. But if you look at today’s community issues, rural health care, housing, day care, elder care, how is this changing in the physical university? , can we adapt? How can we change and adapt across our county system to better meet the needs of what matters to our communities today?”

He gave the example of a recent visit to Holton.

“If it’s a bedroom community, you want to be able to attract people to that community,” he said. “And if you don’t have enough schools, hospitals, medical centers, day care centers, you’re not going to be successful in attracting people to that community. Or if they are in that community, they’re not going to be successful.” They work in that community to help grow the economy. ”

K-State is working with Jackson County officials to develop “several potential projects to strengthen the bedroom community’s child care capacity, grow the economy, and also provide housing options for people who want to work in Topeka.” We are working on “solutions”. A very good example of how K-State 105 functions today. ”

He said K-State is “in the middle stages” of working on a solution, but declined to share any further information before making a final decision.

“We want to be involved in what’s important to Kansans,” Linton said.

Linton said K-State and its land grant mission is unique in Kansas because it is in all 105 counties and has established relationships with people in those communities.

“At the end of the day, we have to meet the needs of Kansans first and then have a national and global impact. That means almost every new program you see comes from K-State — Like K-State 105 and new biomanufacturing initiatives — all tied to what is needed in Kansas.

“As an example, 60 percent of all new jobs in Kansas will be related to advanced manufacturing, biomanufacturing, and food manufacturing. This is the manufacturing and food manufacturing part of that.

Located between the new National Bio-Agricultural Defense Complex and the K-State Biosecurity Institute, Manhattan is “the only place in the world with BSL Levels 1, 2, 3, and 4 to handle all species of animals.” ,” Linton said.

Local, regional and state leaders have frequently touted NBAF’s potential to bring additional economic opportunities to Northeast Kansas and the so-called “Animal Health Corridor.”

“Because we have such capacity and capacity in terms of research,” Linton said. “They will be able to provide opportunities for the industry to thrive and grow. So we need to look to the future and make sure we can leverage that even further and build out this corridor.”

Jason Arratid is a statehouse reporter for the Topeka Capital Journal. He can be reached via email at jalatidd@gannett.com. Follow him on X @Jason_Alatidd.



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