Mainebiz

"Black Bear alumni have a long history of being entrepreneurs and innovators. This study helps document the extent to which they are making an impact on Maine's economy and quality of life." Robert M. Frank lll, Chair UMaine Alumni Association Board of Directors "This information is valuable to everyone involved in understanding and advancing Maine's economy and quality of life. Investing in a UMaine education pays off for individuals, their families, Maine taxpayers, and Maine employers." John C. Reed, CEO Maine Savings Federal Credit Union "Maine clearly benefits from having so many UMaine alums living and working here." Amanda K. Rector Maine State Economist "I'm very familiar with the enormous depth of influence UMaine graduates have on the state's economy, both through my role at The Jackson Laboratory and my service on the Maine Economic Growth Council. This study further quantifies their significance." LuAnn Ballesteros, Vice President for External and Government Affairs, The Jackson Laboratory Here's How Black Bear Alumni Influence Maine's Economy A first-ever study of Black Bear alumni makes clear that a UMaine education pays dividends for the students who attended Maine's flagship university in Orono — and the taxpayers who help fund the university. Commissioned by the UMaine Alumni Association, the study was conducted by the Margaret Chase Smith Policy Center, a nonpartisan, independent research and public service unit of UMaine. "This study shows what we see every day in our economy, that the University of Maine is developing talent that can lead our economy into the future." Heather F. Johnson, Commissioner Maine Department of Economic and Community Development "My take-away from this study is that public investment in public higher education is worth every nickel. The University of Maine makes a profound difference in both lives and livelihoods and deserves our enthusiastic support." Michael P. Bourque President and CEO, The MEMIC Group The UMaine Alumni Impact Study was funded through a generous grant from Additional financial support for the study was provided by Among its top-level findings, the report documented that Black Bear alumni: • hold 29% of all leadership and management positions in Maine's private, public, and not-for-profit sectors • founded more than 10,000 Maine businesses, employing an estimated 26,000 individuals • hold a disproportionately high level of volunteer positions in civic and community life • financially support charitable and not-for-profit organizations at a rate significantly higher than the Maine average • tend to earn significantly more than others in Maine with comparable levels of education • collectively pay an estimated $453 million in individual/household state and local taxes More information about the study, including additional findings and the methodology, can be found at UMaineAlumni.com/impact.

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