The Groove - Minneapolis Community & Technical College
The Groove - Minneapolis Community & Technical College
The Groove - Minneapolis Community & Technical College
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MCTC Generates Annual Economic<br />
Impact of $377 Million<br />
MCTC’s annual economic impact in the metro area tops<br />
$337 million, according to a new study conducted by St.<br />
Paul-based Wilder Research. That ranks MCTC’s economic<br />
impact among the highest in the Minnesota State <strong>College</strong>s<br />
and Universities (MnSCU) system, placing it fourth behind St.<br />
Cloud State University, Minnesota State University-Mankato<br />
and Normandale <strong>Community</strong> <strong>College</strong>.<br />
Based on the Twin Cities metro economy of $190.7 billion, for<br />
every $1,000 produced in the Twin Cities metro area, $20 is<br />
directly or indirectly related to MCTC.<br />
“We are pleased to see MCTC has this level of economic<br />
impact,” said Phil Davis, president of MCTC. “We serve<br />
approximately 14,000 students annually and have seen our<br />
enrollment grow by 34 percent since 1998, while enrollment<br />
by students of color has increased 118 percent. An investment<br />
in MCTC provides future dividends for our State’s residents.”<br />
During 2011, the most recent year data was available for the<br />
study, MCTC and its students generated 3,685 jobs in the<br />
Twin Cities, including 2,593 direct jobs and 1,092 additional<br />
indirect jobs created by vendors, contractors and businesses<br />
supplying MCTC. <strong>The</strong> sources of these numbers are the<br />
institution’s operations (1,286 jobs), students’ expenditures<br />
(2,392 jobs) and MCTC’s investments (7 jobs). A total of 912<br />
jobs are created directly by MCTC’s operational activities.<br />
Career Exploration Begins at MCTC<br />
MCTC is an urban campus located on the edge of downtown<br />
<strong>Minneapolis</strong>, next to Loring Park<br />
(Photo by: Nik Linde, MCTC Power of YOU student)<br />
In 2011, MCTC awarded 822 associate degrees and 742<br />
diplomas and certificates. During the same year the college<br />
had operational expenses of $74.5 million. It is one of 31<br />
institutions in the MnSCU system.<br />
Additionally, by educating its students, MCTC enhances the<br />
productivity of both public and private organizations in<br />
Minnesota. Only considering the 822 associate degrees<br />
awarded by MCTC in 2011, this is equivalent to $77 million in<br />
future value created in the state.<br />
MCTC generates about $22 million in tax revenues for state<br />
and local governments each year, through sales, property<br />
and income taxes.<br />
Data used in the analysis was derived from MCTC’s 2011<br />
financial statements, capital expenditures from the state’s<br />
bond projects that financed investments for MCTC during<br />
2010 to 2012 from the Minnesota Management and Budget<br />
office, and estimates of MCTC students’ spending patterns<br />
from a survey of 346 students.<br />
Teens have an exciting opportunity this summer to get a taste of college life on our<br />
beautiful campus. Career Exploration Summer Camps will provide fun activities in<br />
high-tech classrooms and labs to give participants a glimpse of MCTC programs.<br />
All camps will be led by MCTC faculty and will feature the opportunity for hands-on learning<br />
with small class sizes. On the last day of the program, MCTC will hold a completion<br />
celebration so students can show family and friends their projects. <strong>The</strong> program will also<br />
feature presentations about how students can continue their education and career pursuits.<br />
Camps will be held in the areas of architecture, entrepreneurship, building systems,<br />
culinary arts, biotechnology, filmmaking, photography, fashion, graphic and web design.<br />
All camps are $199 per session (scholarships available) and meet from 9 a.m. to 3:30 p.m., Monday through Friday.<br />
Visit www.minneapolis.edu/camps to learn more about Career Exploration Camps, download the camps flier and register!<br />
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