Anoka-Ramsey, Anoka Tech Economic Contribution Estimated at $437.6 million

Anoka-Ramsey, Anoka Tech Economic Contribution Estimated at $437.6 million

February 01, 2023

Graphic highlighting Anoka-Ramsey and Anoka Tech economic impactMinnesota State, the system of 26 state colleges and seven state universities, recently released the results of a study that estimates the impact of Anoka-Ramsey Community College and Anoka Technical College on the regional economy to be $437.6 million and 3,351 jobs.

“We are deeply committed to the success of our students. That commitment is foundational to the role our colleges play in supporting state and regional economies,” Kent Hanson, president of Anoka-Ramsey and Anoka Tech said. “The economic activity generated by our faculty, staff, students and alumni reaches into every part of our regional economy. We are proud of the impact we have in our communities.”

The study was commissioned by Minnesota State and was conducted by Parker Philips, a nationally-recognized consulting firm specializing in economic impact analysis.

“An economic contribution analysis is an objective way to measure the significance of an organization in the regional economy; it is a useful tool that policymakers can use to inform their decisions,” said Nichole Parker, President of Parker Philips. “The numbers speak for themselves — Anoka-Ramsey and Anoka Tech clearly are important contributors to the regional economy.”

In the analysis, the study considered the direct spending on operations, pay, benefits, and capital projects by Anoka-Ramsey and Anoka Tech and the estimated increase in demand for goods and services in industry sectors that supply or support Anoka-Ramsey and Anoka Tech. The study also measured the effect of student spending and the induced effect of increased household income.

According to the study, a key result of this activity is that Anoka-Ramsey and Anoka Tech support and sustain 3,351 jobs including direct employment by the Anoka-Ramsey and Anoka Tech as well as indirect and induced jobs created by supply and equipment vendors, contractors and laborers for the construction and renovation of facilities and jobs created in the community at hotels, restaurants and retail stores in support of the Anoka-Ramsey and Anoka Tech’s faculty, staff, students and visitors.

The study also calculated tax revenues generated by this level of economic activity, including sales, property, personal income and corporate income taxes. The study concluded that Anoka-Ramsey and Anoka Tech generate about $36.5 million in tax revenues for state and local government.

Statewide, all Minnesota State operations, including all seven state universities and 26 community and technical colleges, plus the spending of its faculty, staff, and students, had a total statewide economic contribution of $8.4 billion. This activity generated an estimated 62,125 jobs in the state.

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