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NDUS report shows LRSC's economic impact on region

By   Erin Wood

The economic impact of the North Dakota University System and its students on the state is on the rise. A study conducted by NDSU examined the University System for Fiscal Year 2013. The results show an economic impact of about $4.8 billion compared to $4.4 billion in FY 2011. 

Lake Region State College continues to have a positive economic impact on the region. In Fiscal Year 2013, the college showed an economic impact of $60.8 million compared with $59.4 million in FY 2011.

Increased retail trade activity spurred by LRSC was estimated to be $11.2 million in FY2011, $13.9 million in FY2012, and $14.1 million in FY2013. Levels of business activity resulting from Lake Region State College expenditures would support about 140 secondary (indirect and induced) jobs in 2013. These jobs are in addition to the 281 positions (excluding student jobs) at Lake Region State College in 2013. 

Direct impacts of student spending in the Devils Lake area was $9.2 million in FY2013. The total economic contribution was $22.8 million. Student spending was estimated to generate an additional $478,000 in sales and use tax revenue and $83,000 in personal income tax collections. This level of student spending would create enough business activity to support 38 secondary (indirect and induced) jobs.

“The location of Lake Region State College is a vital part of Devils Lake and the northeast sector of North Dakota area providing economic and quality of life opportunities for residents.  

In the fall of 2012, 973 full-time equivalent students were enrolled at Lake Region State College. In addition to the economic impact resulting from the institution’s expenditures, spending by students also contributes to the local economy. 

The North Dakota University System consists of the NDUS Office and 11 college campuses located throughout the state. In addition to the 11 main campuses, numerous other university facilities, centers, and offices are located throughout the state. Institutions of higher education have an economic effect in their respective areas and across the state as those institutions acquire inputs, purchase services, and provide for payroll and employment at both the local and state level. 

The FY 2013 report was conducted by North Dakota State University’s Department of Agribusiness and Applied Economics and is similar to other studies done in 1999, 2004, 2006, 2008, 2009 and 2011. Report authors Dean A. Bangsund, Randall C. Coon and Nancy M. Hodur used the North Dakota Input-Output Model to estimate economic impact.