Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

FDLTCC'S ECONOMIC CONTRIBUTION ESTIMATED AT $49.5 MILLION

 

January 17, 2019

CLOQUET, MN -- Minnesota State, the system of 30 state colleges and seven state universities, recently shared the results of a study that estimates the contribution of Fond du Lac Tribal and Community College to the regional economy it serves to be $49.5 million annually and supports and sustains 448 jobs.

"The college's activities and the economic boost generated by our employees and students contribute to the vibrancy of our local community; a community that we are proud to be a part of," said Stephanie Hammitt, interim President of Fond du Lac Tribal and Community College.

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 tool that policy makers can use to inform their decisions," said Nichole Parker, a principal partner at Parker Philips. "Fond du Lac Tribal and Community College clearly is a major contributor to the regional economy."

In the analysis, the study considered the direct spending on operations, pay, benefits, and capital projects by Fond du Lac Tribal and Community College and the estimated increase in demand for goods and services in industry sectors that supply or support the college. 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 Fond du Lac Tribal and Community College supports and sustains 448 jobs including direct employment by the college, 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 college'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 Fond du Lac Tribal and Community College generates about $2.8 million in tax revenues for state and local government.

The study further estimated the value of the increase in productivity that the degrees awarded by Fond du Lac Tribal and Community College yield throughout the careers of the graduates.

"The long-term impact of the college can be felt across the area due to the 300 annual degrees, certificates and/or diplomas awarded to students who are and will become integral members of the workforce," said Hammitt.

Statewide, all Minnesota State operations, including all seven state universities and 30 community and technical colleges, plus the spending of its faculty, staff, and students, had a total statewide economic contribution of $8.0 billion. This activity generated an estimated 67,717 jobs in the state.

The economic contribution report for Fond du Lac Tribal and Community College is available at MinnState.edu/IMPACT.

 

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