February 01, 2023

Anoka Tech, Anoka-Ramsey economic contribution estimated at $437.6 million

Graphic representing Anoka Tech/Anoka-Ramsey economic impact

Minnesota State, the system of 26 state colleges and seven state universities, recently released the results of a study that estimates the impact of Anoka Technical College and Anoka-Ramsey Community 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 Tech and Anoka-Ramsey 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 Tech and Anoka-Ramsey 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 Tech and Anoka-Ramsey and the estimated increase in demand for goods and services in industry sectors that supply or support Anoka Tech and Anoka-Ramsey. 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 Tech and Anoka-Ramsey support and sustain 3,351 jobs including direct employment by the Anoka Tech and Anoka-Ramsey 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 Tech and Anoka-Ramsey’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 Tech and Anoka-Ramsey 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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