Charlottesville,VA – the University of Virginia generates nearly $12 billion in economic activity across the Commonwealth of Virginia each year,according to a new report presented Friday to the University’s Board of Visitors. The study, conducted by UVA’s Weldon Cooper Center for Public Service, details the University’s ample financial contributions throughout fiscal year 2024, spanning July 1, 2023, to June 30, 2024.
The report reveals UVA – including UVA Health and UVA Wise – directly and indirectly supports more then 67,000 jobs statewide, representing approximately 1 in 85 positions across Virginia. Researchers analyzed factors including salaries, spending by visitors and students, government grants, and research investments to arrive at the $11.9 billion figure.
notably, the analysis found that for every dollar of state funding invested in UVA, the Commonwealth receives a return of $35.
“It’s exciting to see the findings of this study validate UVA as a top economic asset locally,regionally and across the commonwealth,” said Jennifer “J.J.” Wagner Davis, Executive Vice President and Chief Operating Officer. “This study clearly demonstrates how our collaborations with business, government and regional partners ensure that our impact reaches every corner of Virginia and is aligned with the sectors driving growth for the commonwealth. UVA is committed to continuing its work with our economic growth partners to accelerate opportunity and prosperity for all Virginians.”
