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Economic Benefit

Career Colleges benefit Minnesota's economy:

  • Career Colleges account for about $1.309 billion annually in total output in the state as measured by income. This includes $595 million directly and $714 million indirectly after all multiplier impacts are taken into account.
  • Career colleges directly and indirectly produce about 14,900 jobs annually in the state.
  • Career colleges directly and indirectly produce almost $450 million in earnings annually in the state.
  • These earnings produce about $21 million annually in state income tax revenue. They produce an additional $9 million in sales taxes.
  • Career colleges directly and indirectly produce nearly $750 million in value added annually in the state.
  • Summing the various tax estimates results in total taxes of about $42 million annually.
  • MCCA institutions produce about 66 percent, or two thirds of the output of the state. These same institutions likewise are responsible for 66 percent of the jobs, earning and other measures.
  • Exploratory analysis suggests each year new graduates of career colleges may earn about $300 million more in income than they would had they not gone on to receive a post secondary degree.
  • This produces additional $14 million in income tax revenue for the state.Type your paragraph here.

Source: The Impact of Career Colleges on the Minnesota Economy, New Pharos Consulting, Mark Misukanis, Ph. D., January 2012