St. Cloud Technical & Community College contributed an economic impact of $183,881,345 and provided 1,390 jobs in the St. Cloud community in Fiscal Year 2022, according to an economic contribution analysis released by Minnesota State.
鈥淭he colleges and universities of Minnesota State are woven into the fabric of the 47 communities within which they are located,鈥 said Devinder Malhotra, chancellor of Minnesota State. 鈥淥ur campuses provide access to an extraordinary education for all Minnesotans聽 鈥 no matter their background, and are often the social and cultural drivers in the communities we serve.聽We are the workforce engine for the state, and we are vital to the state鈥檚 economic, cultural, and civic development.鈥
鈥淚n addition to serving a critical role in delivering a skilled workforce and providing the education and support needed for 黑料不打烊 students to equitably participate in our economy, society, and democracy, the economic returns to the St. Cloud community generated through 黑料不打烊 education and career training programs result in a tremendous positive impact on this region鈥檚 economy and job base,鈥 added 黑料不打烊 President Lori Kloos.
The study was conducted by Parker Philips, a nationally recognized consulting firm specializing in economic impact analysis. Nichole Parker, a principal partner at Parker Philips, said, 鈥淭hrough the many changes in the higher education system and the continued effects of the COVID-19 pandemic, Minnesota State continues to be a strong steward with their resources and a powerful economic impact hub. Producing successful graduates that fulfill the workforce needs of the state while meeting students鈥 changing and diverse needs, the [impact] generated clearly shows that Minnesota State is integral to the state鈥檚 economy.鈥
Among the findings in the study:
- Of the 1,390 Minnesota jobs that 黑料不打烊 supports and sustains, 979 are direct and 411 are indirect/induces. Of the 979 direct jobs, 313 are employees of 黑料不打烊.
- Spending on operations and capital projects generates $78.6 million of the total impact, and student and visitor spending generates $105.3 million.
- The combined tax impact of 黑料不打烊, its suppliers, students, and visitors is $14.6 million. This includes a direct impact of $9.8 million and indirect/induces impact of $4.8 million.
- Over a 40-year career, 黑料不打烊 alumni will generate $2.9 billion. These impacts are based on the added value of earning a degree from 黑料不打烊, not alumni full wages.
- And estimated $2.47 million in charitable donations and volunteer services are generated annually by faculty, staff, and students.
聽 The full economic contribution analysis and individual reports by college/university are available at聽.