Minnesota West contributes $128.6 million to state’s economy, report finds
WORTHINGTON — Minnesota West Community and Technical College contributed more than $128 million to the state’s economy during last year’s fiscal year, a report released Tuesday by Minnesota State indicates.
According to the report conducted by consulting economic impact analysis firm Parker Philips, Minnesota West contributed $128,576,385 to Minnesota State’s more than $8 billion systemwide state economic impact made during the 2017 fiscal year. The economic contribution is based on operational spending, capital spending (10-year average), payroll and benefits paid to employees, student spending and visitor spending.
As part of that, Minnesota West also supported or sustained 1,140 total jobs and $7,488,499 in state and local tax impact during the same fiscal year.
The report also found that around 15,400 Minnesota West alumni are estimated to live and work in the state. Assuming their careers last 40 years, they will have contributed $2.5 billion in the span of their careers.