According to analysis commissioned by Minnesota State
Inver Hills Community College (Inver Hills) and Dakota County Technical College (DCTC) generate $331.4 million in economic impact per year, according to an economic contribution analysis commissioned by Minnesota State.
“Inver Hills and DCTC play an essential role in growing the region’s economy,” said Michael Berndt, Inver Hills and DCTC president. “The colleges offer a powerful range of educational opportunities that contribute to Dakota County and the southeast metro’s success.”
The study, which included the 30 colleges and seven universities of the Minnesota State system, 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, Parker Philips president. “The numbers speak for themselves—DCTC and Inver Hills clearly are an important contributor to the regional economy.”
The analytic study considered the direct spending on operations, pay, benefits, and capital projects by Inver Hills and DCTC, and the estimated increase in demand for goods and services in industry sectors that supply or support the colleges. The study also measured the effect of student spending and the induced effect of increased household income.
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 Inver Hills and DCTC generate about $26.6 million in tax revenues for state and local government.
Other notable findings on Inver Hills and DCTC:
- $158 million alumni impact generated annually
- $4.5 million in charitable contributions annually
- More than 1,400 graduates annually
Learn more about the broader Parker Philips study by visiting:
Learn more about the Inver Hills and DCTC economic impact by contacting:
Director of Strategic Marketing
Inver Hills Community College and Dakota County Technical College