Study: South Dakota’s 6 Universities Have $ 2 Billion Economic Impact | State News
PIERRE (AP) – Analysis conducted for the South Dakota Board of Regents shows the significant impact of public higher education on the state’s economy.
The state’s six public universities supported 12,354 jobs and generated an annual economic impact of $ 2.1 billion in fiscal 2019, according to analysis by consulting firm Parker Philips, Inc. Together, the universities generated more than $ 74 million in state and local taxes for the fiscal year. year.
Over 33,000 students attend Black Hills State University, Dakota State University, Northern State University, South Dakota School of Mines & Technology, South Dakota State University, and University of South Dakota.
Financial data used in the study was gleaned from operational and capital spending, employee payroll and benefits, and estimated visitor and student spending beyond tuition and fees, according to Park Philips.
The report notes that while universities are the main economic engine of the state, they are not without challenges. These include the decline in the population, the decrease in the number of enrolled students, the financial accessibility of higher education and the reduction in state aid.
Total enrollment at state public universities has declined 8.1% over the past five years as the number of high school graduates declines, according to the analysis.
Among six neighboring states, Iowa, Minnesota, Montana, Nebraska, North Dakota, and Wyoming, the annual cost of tuition and undergraduate fees in South Dakota is second behind Minnesota. . Total costs for tuition, fees, and room and board were $ 16,251 at public universities in South Dakota in 2019.
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