St. Cloud State’s 103,499 Minnesota alumni will, over the span of their 40-year careers, have contributed nearly $61.2 billion to the state’s economy.
That’s a finding in the new Economic Contribution Analysis (PDF) commissioned by the Minnesota State system and conducted by the Pennsylvania consulting firm Parker Philips.
“As State Cloud State celebrates 150 years of service to the people of Minnesota, we’re pleased to see the impact of our alumni on the state’s economy quantified,” said Matt Andrew, vice president for university advancement.
“We’re committed to the principle of stewardship of place, meaning we’re committed to advancing the economic, social and cultural aspects of the communities we serve,” said Andrew. “This report is an important affirmation of our mission and the impact St. Cloud State has on Minnesota.”
St. Cloud State graduates participate in the economy through civic engagement and careers in business, law, the arts, science, public service and more.
Among the St. Cloud State graduates in public service:
- There are 15 legislators, including 10 House and five Senate members
- Lt. Governor Michelle Fischbach ’89 earned a bachelor’s degree in political science
- Recently, two alumni became judges in Minnesota’s 7th Judicial District
- The new mayor-elect of Carver is Courtney Johnson ’00
In the business world, Matt Roisum ’10 is market vice president and commercial loan officer for Home Federal Savings Bank, Rochester. He serves as a board member for two non-profits: Rochester Symphony Orchestra & Chorale and 125 LIVE, Rochester’s $26 million inter-generational senior center. Roisum earned his bachelor’s degree in business economics.
The combined contributions of Minnesota State system alumni working in Minnesota is estimated at $291.1 billion, according to the study.
The system’s seven universities and 30 colleges support or sustain $1 of every $42 in Minnesota’s economy, according to the study.
For every $1 in state appropriation, Minnesota State generates nearly $12 in economic activity, the study reported.
The headline finding of the study: St. Cloud State’s annual contribution to the economy is $686.5 million and the University supports and sustains 5,515 jobs.
“Minnesota State is the most powerful and effective tool the state has to ensure opportunity and prosperity for its citizens and its communities,” said Mike Vekich, who chairs the Minnesota State Board of Trustees.