MANKATO FREE PRESS, Ashley Opina Reporting
With an estimated contribution of more than $827 million by Minnesota State University to the state economy, President Edward Inch believes the numbers show just how strong of a partner MSU is to the local and statewide industry.
“We are very proud of that,” he said. “We partner with many of the economic drivers and businesses of our region to support their interests while providing our students with outstanding experiences.”
The data was retrieved from an economic impact report produced by national consulting firm Parker Philips, which was commissioned by the Minnesota State system for all its colleges and universities.
The study found that MSU generates an annual economic impact of $827.2 million. This includes a direct impact of $454.4 million and an indirect and induced impact of $372.7 million.
Spending on operations and capital projects generates $456 million of the total impact, and student and visitor spending generates $371.2 million.
MSU has the greatest economic impact in comparison to the other six universities within the system, followed by St. Cloud State University at $598.8 million.
The 26 colleges and seven universities that comprise the Minnesota State system had a total impact on the state’s economy of $8.4 billion in 2022, the report said, and that the economic activity of the system supported or sustained 62,125 jobs throughout the state.
The study found Minnesota State supports or sustains $1 out of every $49 in Minnesota’s economy, and the operations of the system support or sustain one job out of 46 in the state.
MSU supports and sustains 5,884 Minnesota jobs alone.
More than 850,000 alumni of the Minnesota State system live and work in the state, and an estimated 82,872 of them are graduates of MSU.
MSU graduates generate an annual $1.9 billion in economic impact for Minnesota, and support and sustain 10,374 jobs.
Through its local spending and the jobs it supports or sustains, Minnesota State generates $649.2 million in state and local taxes. MSU generates $59.1 million of that total through its supplies, students and visitors. That includes a direct impact of $36.5 million and indirect and induced impact of $22.6 million.
The employees of Minnesota State also contribute an estimated $109.3 million annually in charitable giving and volunteerism. An estimated $9,594,514 of that are generated annually by MSU faculty, staff and students, with $1,495,701 donated to local charitable organizations and $8,098,813 of volunteer time.
“Of course, there is more to be done,” Inch said. “This report gives us a strong baseline from which to look to the future. Our new strategic plan commits us to expanding economic and business partnerships in ways that support student learning, business success, and the retention of talented students in the workforce of our region.
“I look forward to continuing to innovate and partner with our community as we prepare students for a changing and diverse workforce.”
