Saint Paul College Economic Contribution Estimated at $279.1 Million

Saint Paul, Minn. - January 25, 2023 – Minnesota State, the system of 26 state colleges and seven state universities, released yesterday the results of a study that estimates the annual impact of Saint Paul College on the regional economy to be $279.1 million and 2,086 jobs.

"Saint Paul College is a vital contributor to our local and regional economy," said Saint Paul College President Deidra Peaslee, EdD. "Our mission and vision are to educate – to help students transform their lives and communities. Each day we embrace our role of educating students because we know that through the new skills learned at Saint Paul College, our graduates are able to enter the middle class with family-sustaining wage jobs. When we invest in our students, we invest in entire families and all of society. It truly has a multiplier effect. It helps us build a stronger future for the State of Minnesota."

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 — Saint Paul College is clearly an important contributor to the regional economy."

The analysis considered the direct spending on operations, pay, benefits, and capital projects by Saint Paul 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 Saint Paul College supports and sustains 2,086 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 Saint Paul College generates $22.6 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 Saint Paul College yield throughout the careers of the graduates. Over their 40-year career, Saint Paul College alumni will generate $2 billion in the economy (future value, discounted and adjusted to account for such factors as foregone income while attending school and outmigration).

"Every current student, future student, and alum of Saint Paul College makes a long-term contribution to our regional economy," said Peaslee. "We are proud of and committed to the exponential impact our college makes our economic and community vitality."

Statewide, all Minnesota State operations, including all seven state universities and 26 community and technical colleges and the impact 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.

For more information, go to https://www.saintpaul.edu/economicimpact.

Economic Impact Overview

https://www.saintpaul.edu/economicimpact