Riverland Community College today released the results of a study that estimates the economic impact of Riverland on the regional economy to be $70 million and 871 jobs.

“In addition to focusing on the success of our students, Riverland Community College plays a vital role in supporting our state and regional economy,” said Kent Hanson, Riverland’s interim president. “Our operations and the economic activity generated by our faculty, staff, and students touch virtually every corner of our regional economy and support local business and industry.”

The study was conducted by Wilder Research, a nationally recognized source of data used by state and local planners, policy makers and service providers.

Jose Diaz, research scientist for Wilder, said, “This economic impact research provides a statistically valid measurement of the significance of an organization’s activities on the regional economy. Policy makers and community leaders can use the data to inform their decisions. Riverland Community College clearly has a significant impact on the regional economy.”

The study also concluded that Riverland generates approximately $4 million in tax revenues for state and local government each year.

The study further estimated the value of the increase in productivity that the 380 associate degrees and 276 diplomas and certificates awarded by Riverland in 2011 will yield throughout the careers of the graduates. Assuming a 40-year work life, the education received by these graduates will yield additional state income of $27.7 million. “Riverland Community College makes a long-term contribution to the regional economy with every graduating class because the productivity improvements from higher education last for the worker’s entire career,” said Diaz.

On a statewide level, the Wilder study shows the seven state universities and 24 community and technical colleges that are part of the Minnesota State Colleges and Universities System:

• Generate an annual economic impact of $8.3 billion (direct impact of $5 billion and indirect impact in other industries of $3.3 billion).
• Represent a return of $13.53 for each $1 of state appropriation.
• Generate an estimated 80,856 jobs in the state (56,876 direct jobs and 23,979 additional indirect jobs created by vendors, contractors and businesses supplying inputs to our colleges and universities and their students).
• Generate approximately $490 million in tax revenues for Minnesota state and local governments.

In addition to the impact outlined above, the enhanced productivity of MnSCU graduates across the state is equivalent to $4.7 billion of future value created each year. Riverland Community College, a member of the Minnesota State Colleges and Universities system, is a regional comprehensive community college inspiring learning for living through a personalized educational environment. Approximately 4,900 students are served annually through a wide range of credit-based educational opportunities. An additional 5,400 students are annually served in non-credit courses. Facilities are located in Albert Lea, Austin, and Owatonna, Minn. Riverland may be found on the Internet at www.riverland.edu.

The Minnesota State Colleges and Universities (MnSCU) system includes 24 two-year community and technical colleges and seven state universities. It is the fifth largest higher education system of its kind in the United States. Each year, more than 420,000 students from all walks of life attend MnSCU colleges and universities for undergraduate and graduate degree, certificate and diploma programs, training and retraining classes and courses to enrich their lives. More than 80 percent of MnSCU graduates stay in Minnesota to work or continue their education. Nearly 86 percent of MnSCU graduates get jobs related to their field of study. In addition, MnSCU collaborates with 6,000 employers throughout the state to provide customized training to 122,000 employees, helping to ensure that these Minnesota companies remain competitive. MnSCU delivers the most affordable and cost effective higher education option in Minnesota.