NDUS Report: UND’s Economic Impact Keeps Growing Beyond $1 Billion Mark

The economic impact of the University of North Dakota on its local economy was pegged at about $1.13 billion in fiscal year 2009, up from $1.09 billion in FY2008, according to the most recent study commissioned by the North Dakota University System (NDUS).  This is the fourth year in a row UND’s economic impact has exceeded the $1 billion mark. UND’s level of impact has increased every year for the past 10 years, up from $657.4 million in FY1999.

Not included in those figures was spending by UND’s students, the majority of whom, for example, live in private housing in the community.  The report cites the direct impacts of student spending in the Grand Forks area as $104.3 million in FY2009.  The total economic impact of student spending was $259 million, highlighted, the reports states, by increased retail trade activity of $117 million and personal income increases totalling $62.8 million.  The report says these levels of business activity would generate an additional $5.4 million in sales and use tax revenue, and nearly $1 million more in personal income tax collections.  This level of student spending would create enough business activity to support 1,210 secondary (indirect and induced) jobs in the community.

The total NDUS economic impact, including the effects of all University System student spending, was $3.7 billion, according to the study.

For more on this report, go to UND’s news page here!