UND contributes $1.5 billion to North Dakota economy, according to new report

UND’s total economic contribution to the state is estimated at $1.5 billion during fiscal year 2017, according to a new report released by the North Dakota University System (NDUS).

The total impact of the NDUS and its students on the state was estimated at $5.3 billion, said the report, which was compiled by North Dakota State University’s Department of Agribusiness and Applied Economics. The economic impacts include both direct and secondary expenditures.

UND’s direct economic impact was $522.9 million in fiscal year 2017.

In addition to the economic contribution resulting from the institution’s expenditures, spending by students also contributes to the local economy. Direct impact of student spending in the Grand Forks area was $151.3 million in FY2017. The total economic contribution of student spending was $376.0 million. Student spending was estimated to generate an additional $7.9 million in sales and use tax revenue and $1.4 million in personal income tax collections. This level of student spending would create enough business activity to support about 5527 secondary (indirect and induced) jobs, said the report.

 Levels of business activity resulting from UND expenditures would support 3,126 secondary (indirect and induced) jobs in 2017, in addition to the 3,765 positions (excluding student jobs) at UND.

The full report is available here.