New report shows university generates $2.2 billion for Idaho’s economy

The FY25 economic impact report reinforces Boise State's role as a key driver of workforce development, job creation and long-term economic growth statewide.

"The Economic Value of Boise State University on Idaho" report was conducted by Lightcast, a nationally recognized leader in economic impact analysis and labor market data for higher education institutions, workforce planners and regional economic developers. The report finds that Boise State's economic contribution represents approximately 1.9% of Idaho's total gross state product, an impact greater than the state's entire utilities industry. The university's influence extends well beyond its campus, supporting communities, employers and families throughout Idaho.

"Boise State is a powerful economic engine for Idaho," said Boise State Interim President Jeremiah Shinn. "Each day, our students, faculty and staff drive job creation, prepare a skilled workforce and contribute to long-term prosperity across our state. Investing in Boise State is an investment in Idaho's economic future."

Boise State's economic impact has grown significantly greater than just a few years ago. The FY25 impact is more than $500 million higher than the $1.6 billion measured in FY20.

University operations, research activity, construction, visitor spending, student spending and alumni collectively support 28,026 jobs across Idaho. That means Boise State and its students support one out of every 45 jobs statewide.

The report highlights Boise State's strong return for taxpayers. The university generates an estimated $347.7 million in taxpayer benefits through increased tax revenues and public sector savings - more than double the $144.2 million in state and local funding it received in FY25.

Public investment has paid off. For every $1 of public funding invested in Boise State, taxpayers receive $2.40 in return. The report estimates an 8% annual return rate for taxpayers, a figure that compares favorably with many long-term public and private investments.

Boise State graduates also see significant economic benefits. The average bachelor's degree graduate earns $24,100 more per year than an individual with a high school diploma working in Idaho. Over a lifetime, that earnings advantage approaches $1 million per graduate.

Collectively, the FY25 cohort of Boise State students is projected to generate $1.5 billion in increased future earnings, strengthening Idaho's workforce and tax base. Students see a $4.20 return on every $1 invested in their education, with an average 16% annual rate of return, exceeding the U.S. stock market's 30-year average rate of return.

"These results underscore the impact of a Boise State education," Shinn said. "Our students realize strong returns on their investment, and those returns consistently translate into tangible benefits for Idaho's economy, its businesses and communities."

The FY25 economic impact report underscores Boise State's role as a trusted partner in Idaho's economic future, connecting education, workforce development and innovation to long-term growth. The full report is available at boisestate.edu/impact.

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