Saint Paul, Minn. (February 2, 2023) — Minnesota State, the system of 26 state colleges and seven state universities, released the results of a study that estimates the impact of Metro State University on the regional economy to be $384.4 million and 3,072 jobs. The study was commissioned by Minnesota State and was conducted by Parker Philips, a nationally recognized consulting firm specializing in economic impact analysis.
“An economic contribution analysis is an objective way to measure the significance of an organization in the regional economy; it is a useful tool that policymakers can use to inform their decisions,” said Nichole Parker, President of Parker Philips. “The numbers speak for themselves — Metro State University clearly is an important contributor to the regional economy.”
In the analysis, the study considered the direct spending on operations, pay, benefits, and capital projects by Metro State University and the estimated increase in demand for goods and services in industry sectors that supply or support the university. The study also measured the effect of student spending and the induced effect of increased household income.
According to the study, a key result of this activity is that Metro State supports and sustains 3,072 jobs including direct employment by the university as well as indirect and induced jobs created by supply and equipment vendors, contractors, and laborers for the construction and renovation of facilities, and jobs created in the community at hotels, restaurants, and retail stores in support of the university’s faculty, staff, students, and visitors.
The study also calculated tax revenues generated by this level of economic activity, including sales, property, personal income, and corporate income taxes. The study concluded that Metro State University generates about $30 million in tax revenues for state and local government.
The study further estimated the value of the increase in productivity that the degrees awarded by Metro State yield throughout the careers of the graduates. Assuming a 40-year work life, the education received by these graduates will yield additional state income of $44 billion.
Statewide, all Minnesota State operations, including all seven state universities and 26 community and technical colleges, plus the spending of its faculty, staff, and students, had a total statewide economic contribution of $8.4 billion. This activity generated an estimated 62,125 jobs in the state.
The economic contribution report for Metro State University is available on Minnesota State’s Impact page.
Media Contact:
Laura Lindahl
Director of Marketing and Communications
laura.lindahl@metrostate.edu