University of Minnesota officials have a new tool as they make their case that the school is the stateâÄôs best investment.

Every dollar of state support at the University generates $13.20 in the broader Minnesota economy, according to a study released Monday.

The University generates about $8.6 billion in direct and indirect economic impact each year, according to the report created by an outside consulting company that has performed similar studies at 150 colleges.

The money comes from a range of sources, including federal research grants âÄì which account for about $800 million alone âÄì and from the spending of 42,000 University employees.

The report will be another tool for the University to demonstrate its importance and impact to the state as it faces potential funding cuts, said President Bob Bruininks.

The report is clearer than other statistics the University uses to measure its impact, he said, but it leaves out non-economic impacts generated by the schoolâÄôs educational operations.