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Universities Bring in Big Bucks

Universities Bring in Big Bucks

Posted - Dec. 14, 2004 at 7:38 a.m.



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SALT LAKE CITY (AP) -- The University of Utah and Utah State University mean big bucks to the state's economy.

According to a new report, the two research universities accounted for 2-point-1 (b) billion in revenue. That's nearly one-thousand dollars for every person in the state.

The report was presented yesterday to university trustees.

The senior anyalist behind the report says the schools provide educational services as well as sources of new money for the state.

University officials say the two schools generate five dollars for every one dollar they receive froms tate taxes. With a new budget on the horizon, university officials hope lawmakers keep that in mind.

Analysts say research schools bring in more out-of-state money and create spin-off companies, which pay taxes and provide even more jobs.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

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