Anoka-Ramsey Community College released the results of a Wilder Research study that estimates the economic impact of Anoka-Ramsey on the regional economy to be $327 million dollars and 3,235 jobs.
“We see every day the impact Anoka-Ramsey operations students support local and state-wide business and industry,” says Anoka-Ramsey Community College president Dr. Jessica Stumpf. “But it is validating to see the fact in the details of this report supporting the college’s impact.”
Jose Diaz, research scientist for Wilder, notes in the report, “By educating its students, Anoka-Ramsey Community College enhances the productivity of both public and private organizations in Minnesota. Its alumni provide the skills and knowledge needed to improve the functioning of many organizations in the state.”
The study further estimates that for every $1,000 produced in the Twin Cities, $17 are directly or indirectly related to Anoka-Ramsey Community College. The sources of these direct and indirect impacts are the institution’s operations ($93 million), students’ expenditures ($233 million), and Anoka-Ramsey Community College investments ($266,308).
On a statewide level, the Wilder study shows the seven state universities and 24 community and technical colleges that comprise the Minnesota State Colleges and Universities (MnSCU) system:
- Represent a return of $13.53 for each $1 of state appropriation.
- Generate an annual economic impact of $8.3 billion (direct impact of $5 billion and indirect impact in other industries of $3.3 billion).
- Generate an estimated 80,856 jobs in the state (56,876 direct jobs and 23,979 additional indirect jobs created by vendors, contractors and businesses supplying inputs to our colleges and universities and their students).
- Generate approximately $490 million in tax revenues for Minnesota state and local governments.
In addition to the impact outlined above, the enhanced productivity of MnSCU graduates across the state is equivalent to $4.7 billion of future value created each year.
For more information about Anoka-Ramsey Community College, visit AnokaRamsey.edu.