As the chancellor continues to advocate the University of Wisconsin’s ability to generate revenue, a report released Wednesday said the university is increasingly a substantial economic force in the state.

The report found in 2003 the state tax revenue generated by UW was roughly $4.7 billion, a figure that boomed to nearly $12.4 billion in combination with university affiliates in the 2011 report.

Northstar Economics conducted the survey for the university and UW Research Park and is the fifth study done focused on UW’s impact on the state economy in nearly 40 years.

Charles Hoslet, UW corporate relations spokesperson, said the study examined spending data for the university, a variety of affiliated organizations on campus and startup companies formed at UW.

“It is a lot of data crunching,” he said.

A statement from UW said the university’s affiliates included over 280 startup companies that have helped create about 21,000 jobs in the state.

Hoslet also said UW is a major economic resource to the Wisconsin workforce, making up almost 4 percent of all the jobs in the state. The statement said this contribution totals 128,146 jobs statewide.

Economics professor Andrew Reschovsky said the findings demonstrate the broad impact and innovative research the university provides for the state.

“This sort of innovation comes from areas of scientific research which becomes businesses and provide jobs,” he said.

Reschovsky added the study provides evidence that UW plays an important role in the prosperity of Wisconsin, and the state would likely be poorer if not for the university.

Judith Burstyn, chair of the University Committee, said this type of study helps to show the university continually draws a variety of academic talent to the state of Wisconsin.

“Of all the campuses in the state, UW-Madison generates the most revenue. That’s what makes it a flagship school,” Burstyn said.

Hoslet said Chancellor Biddy Martin has expressed that she hopes policymakers and state legislators will use these new findings to continue sustaining strong programs at UW or potentially provide support for more administrative flexibilities “to keep itself strong.”

The original article’s headline said, “Study: UW gives back $12.4M to Wisconsin,” when it should’ve read “Study: UW gives back $12.4B to Wisconsin.” The Badger Herald regrets the error.