The University of Houston System's annual impact on the Houston area's economy equates to that of a major corporation: $1.1 billion in new funds attracted annually to the Houston area, $3.13 billion in total economic benefit and 24,000 local jobs generated. This is in addition to the 12,500 new graduates the U.H. System produces every year who enter the workforce in Houston and throughout the state of Texas. These degree-holders tend to stay in Houston. After five years, 80.5% of graduates are still living and working in the region.