4,200 Jobs, $448 Million: New Study Shows Michigan Tech's Impact on State Economy
Michigan Tech created about 4,200 jobs and generated $448 million in spending in the state of Michigan in 2016, delivering a nearly 10:1 rate of return on every dollar the state invests in it, according to an economic impact study released today.
The study by Anderson Economic Group (AEG) also finds that each of Michigan’s 83 counties benefits financially from the University, with Houghton County, where the institution is located, accounting for almost 30 percent of the overall effect.
Commissioned by Michigan Tech, the report uses data primarily drawn from the 2016 fiscal year to show how University operations, alumni earnings and student spending inject hundreds of millions into Michigan’s economy. The report also highlights $72.5 million in research and development activities that contribute to the state’s fiscal health.
Read the full story at mtu.edu/news.