The University of Colorado brought in an economic impact of $10.8 billion to the state during the 2022-2023 fiscal year, according to a new study. When combined with the impact of the school’s affiliate hospitals, the total hits $17.2 billion.

A study from the Business Research Division of CU Boulder’s Leeds School of Business reported that the four school campuses brought in $10.8 billion overall — up from the  $8.7 billion in the last fiscal year.

The two CU-affiliate hospitals at the CU Anschutz Medical Campus – University of Colorado Hospital and Children’s Hospital Colorado – brought in $6.5 billion, according to the press release. They brought in $4.6 billion in the last fiscal year.

“I am incredibly proud of what we do on all four CU campuses, and this economic impact is a reflection of that excellent work,” CU President Todd Saliman said in the release. “I’m thrilled to take a moment and celebrate the significant contributions our university is making to serve our great state and help power the Colorado economy. There are so many different ways CU strives to support our state, and we are certainly proud to be a leading driver toward Colorado’s success.”

CU remains one of the state’s top-five employers. In the 2022-2023 fiscal year, the school and its hospitals employed 43,255 faculty, staff and student workers. They earned a total of $3.6 billion in salaries and benefits.

The overall figures include employee and student worker earnings, operating expenditures, construction, research, and spending by students and visitors, according to the release. The study doesn’t include the impact of alumni, retirees, athletics and technology transfer.

The four UC campuses include the University of Colorado Boulder, the University of Colorado Colorado Springs, the University of Colorado Denver and the University of Colorado Anschutz Medical Campus.