The annual economic impact of the University of Mississippi is right around $3 billion, the university announced Monday. That’s just one of the findings of a study commissioned by the university and conducted by a nationally recognized economic consulting firm, according to a news release from the university.

“As a publicly supported institution, the University of Mississippi exists to serve the people and the economy of our state,” Interim Chancellor Larry Sparks said in the news release. “This study affirms the university’s substantial impact in Mississippi supporting industry and benefiting society, from an expanded economy to improved quality of life.”

Study highlights from University of Mississippi News:

University of Mississippi enables 43,121 jobs across the state, which means that one out of every 37 jobs in Mississippi is supported by the activities of UM and its students.

In FY 2016-17, Mississippi taxpayers provided $121.5 million in funding for UM Oxford and regional campuses. In return, taxpayers will receive an estimated present value of $442.9 million in added tax revenue stemming from students’ higher lifetime earnings and increased business output.

University’s impact revealed a return of $4.40 in state tax revenue and public sector savings for every dollar in state funds that supports the university.

Go here to read the executive summary and full report.

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