Minnesota State University, Mankato's annual economic impact on south central Minnesota is $307.4 million, according to a study for the Minnesota State Colleges and Universities system.
That figure is the second-largest impact a Minnesota state university has on its surrounding region, with St. Cloud the highest at $369 million.
Overall, the state's appropriation to the Minnesota State Colleges and Universities returns $3.5 billion a year to Minnesota's economy, which includes $2.4 billion from enhanced productivity, according to the study.
"There is no question that the state's investment in the Minnesota State Colleges and Universities pays real dividends to the state," Chancellor James H. McCormick told the MnSCU Board of Trustees in his annual State of the System speech. "By educating our students, our system enhances the productivity of the state's workforce.
"Of the $3.5 billion return, about $2.4 billion is from enhanced productivity of Minnesota workers who received degrees or training at our colleges and universities. And our graduates do not make just a one-time addition to the state's economy; they continue to contribute throughout their working lives."
The system's capital expenditures also have had a significant impact on the state's economy, the report showed. During the last four years, construction spending on the system's 53 campuses has generated an average of $243 million per year of economic activity and the equivalent of more than 2,500 full-time jobs a year in Minnesota.
The report was done for the MnSCU system by Paul Anton, chief economist for Wilder Research, a non-profit organization.
The individual regional impacts of the seven state universities are: Bemidji State University, $105 million; Metropolitan State University, St. Paul and Minneapolis, $154.1 million; Minnesota State University, Mankato, $307.4 million; Minnesota State University Moorhead, $156.3 million; Southwest Minnesota State University, Marshall, $109.3 million; St. Cloud State University, $369.4 million; and Winona State University, $194.4 million.
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