2018 Economic Impact Report
Minnesota State Mankato partners with industry throughout the state to fuel the Mankato and Minnesota economy. These close ties with area corporations allow the University to pivot and remain ahead of the curve in developing academic programs that respond to industry trends.
Responding to Industry Needs
Program development decisions are guided by industry advisory boards and offer students project-based learning that leads to employment in high demand careers.
- In response to workforce need, Minnesota State Mankato added three new professional science master's programs.
- A new bachelor and master's program in health informatics and analytics and a master of science in data analytics are being developed.
- A full range of traditional engineering programs on campus is supplemented by Integrated Engineering (which includes the Iron Range and Twin Cities Engineering programs) and recognized with industry awards as one of the top five emerging world leaders in engineering education in a Massachusetts Institute of Technology research study.
Contributing to the Minnesota Economy
- Minnesota State Mankato has a combined economic contribution of $781.5 million. This includes a direct impact of $393.6 million and an indirect/induced impact of $387.9 million.
- Operational and capital spending in the State of Minnesota generates $452.1 million of the total impact and $329.4 million from student and visitor spending.
Supporting and Sustaining Jobs in the State
- Minnesota State Mankato directly employs 1,600 people.
- Overall, Minnesota State Mankato supports more than 6,239 jobs (3,622 direct and 2,577 indirect/induced).
Students and Alumni
Our students and alumni generate additional economic impact.
As of the 2016-2017 academic year, Minnesota State Mankato:
- awarded a total of 3,421 degrees and certificates.
- has more than 123,000 living alumni, of which over 85,000 still reside in the state.
The impact of additional earnings of Minnesota State Mankato graduates living and working in Minnesota over the span of 40 years will be nearly $55.9 billion (associate and bachelors $49.1 billion and master's and doctoral $6.8 billion).
Minnesota State Mankato provides students with experiences to prepare them to be active citizens in their communities. Alumni serve on boards, serve as active public servants, host local speakers' series, raise awareness for social issues, and are leaders across industries.
The Minnesota State Mankato Foundation raised more than $17.4 million in FY 17 from 6,957 donors supporting growth, innovation, and scholarships.
Making a Difference in the Community and State
Minnesota State Mankato enriches the Mankato community, region and state:
- Nationally ranked athletic teams
- more than one-third of student athletes earn dean's list recognition
- Ongoing commitment to environmental sustainability
- The University has reduced its carbon footprint by 6.8 percent over a four-year period through programs implemented by Facilities Management.
- The University Dining Center has reduced waste by 92 percent and is also collecting food waste for composting.
- Entrepreneurial spirit
- The Big Ideas Challenge encourages students and recent alumni to pursue "entrepreneurial paths."
- The 1 Million Cups program - a national program designed to educate, engage and inspire entrepreneurs around the country - is based on the notion that entrepreneurs network and discover solutions over a million cups of coffee.
- The Center for Innovation & Entrepreneurship is located in the heart of Mankato's Old Town business district, and is creating more opportunities for students, local entrepreneurs, and businesses to collaborate and innovate.
- The Small Business Development Center (SBDC) at Minnesota State Mankato provides a vast array of technical assistance to small business owners and aspiring entrepreneurs, fostering local and regional economic development through job creation and retention.
- In 2017, the SBDC provided 4,200 hours of professional consulting, helping regional businesses attract $20 million in new capital and launch 32 new businesses.
By creating jobs, supporting the local economy and preparing students for a rewarding career, Minnesota State Mankato is making a difference.
For the full economic contribution analysis of the Minnesota State Colleges and Universities system, visit the Minnesota State Impact website.