Study places UMD economic impact at more than $500 million

Duluth Business

A study has found that the University of Minnesota Duluth contributed more than $500 million to the local economy last year and helped support several thousand jobs beyond the campus.

The Bureau of Business and Economic Research at UMD’s Labovitz School of Business and Economics unveiled the findings on Tuesday, covering seven counties in Northeastern Minnesota as well as Douglas County in Wisconsin.

In 2014, UMD budgeted $248 million in operational expenses, the school reported — including $137 million in compensation and benefits for its nearly 2,000 employees. The university also spent $13 million on construction projects.

“These are the direct expenses that UMD has, but when you look at how they ripple through the local economy, it actually multiplies

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