DETROIT (AP) — An alliance of Michigan’s three largest universities says every region in the state is benefiting from economic activities tied to the schools.
An annual report issued Tuesday from the University Research Corridor says the University of Michigan, Michigan State University and Wayne State University had a $17.5 billion impact on Michigan’s economy in 2014, up $700 million from the previous year.
The report says spending on operations, student spending and alumni earnings offers a statewide boost. The alliance says the schools also surpassed their five-year average for the number of patents issued, licensing and options activity and invention disclosures for a third straight year.
Since 2002, the three schools say they’ve cultivated 188 startup companies, including 71 which have formed in the past five years.
