Report: St. Cloud School Has $184 million Economic Impact on Region

(KNSI) – St. Cloud Technical & Community College is worth nearly $184 million to the local economy, accounting for 1,390 jobs.

The analysis considered the direct spending by SCTCC on benefits, capital projects, operations, and pay, as well as student spending and services that support SCTCC. The study calculated tax revenues generated by the school at around $14.6 million. It estimated that people who earn degrees from SCTCC would help pay an additional $2.9 billion in total taxes over their lifetimes.

“In addition to serving a critical role in delivering a skilled workforce and providing the education and support needed for SCTCC students to equitably participate in our economy, society, and democracy, the economic returns to the St. Cloud community generated through SCTCC education and career training programs result in a tremendous positive impact on this region’s economy and job base,” said SCTCC President Lori Kloos.

All seven state universities and 26 community and technical colleges have a total statewide economic impact of $8.4 billion, generating an estimated 62,125 jobs.

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

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