Normandale Community College recently released the results of a study that estimates the economic impact of Normandale on the regional economy to be $430 million dollars and 4,164 jobs.
The study also concluded that Normandale generates approximately $57 million in tax revenues for state and local government. It also estimated the value of the increase in productivity that the 1,053 associate degrees awarded by Normandale in 2011 will yield throughout the careers of the graduates. Assuming a 40-year work life, the education received by these graduates will yield additional state income of $98.6 million.
“In addition to focusing on the success of our students, Normandale plays a vital role in supporting our state and regional economy,” said Normandale President Joe Opatz. “Our operations and the economic activity generated by our faculty, staff, and students touch virtually every corner of our regional economy and support local business and industry.”
On a statewide level, the Wilder study shows the seven state universities and 24 community and technical colleges that are part of the Minnesota State Colleges and Universities System generate an annual economic impact of $8.3 billion (direct impact of $5 billion and an indirect impact in other industries of $3.3 billion.
Jose Diaz, research scientist for Wilder, said,
The study was conducted by Wilder Research, a nationally recognized source of data used by state and local planners, policy makers and service providers.
To read Normandale’s full report, click here.