Forum staff reports, Published March 14 2013
Study: Economic impact of MSUM $215 millionMOORHEAD – A new study pegs the economic impact of Minnesota State University Moorhead in 2011 at $215 million, adding 2,862 jobs to the region’s economy.
Additionally, the study conducted by Wilder Research estimated the value of the increase in productivity that the 1,397 bachelor’s and master’s degrees awarded in 2011 by MSUM will yield throughout the graduates’ careers.
Assuming a 40-year work life, the education received by these graduates will yield additional state income of $256.5 million, according to the study.
On a statewide level, the Wilder study shows the impact in 2011 of the seven state universities and 24 community and technical colleges that are part of the Minnesota State Colleges and Universities System:
•Total economic impact of $8.3 billion, with direct impact of $5 billion and indirect impact in other industries of $3.3 billion.
•A return of $13.53 for each $1 of state funding.
•Add an estimated 80,856 jobs in Minnesota, including 56,876 direct jobs and 23,979 additional indirect jobs created by vendors, contractors and businesses.
$490 million in taxes for state and local governments.