UMD Report Shows $521M Economic Impact Yearly

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The University of Minnesota-Duluth says it is pumping out $521 million into the region’s economy every year, which is a 5.7 percent increase since 2010.

The study was conducted by the Labovitz School’s Bureau of Business and economic research.

And while Chancellor Lendley Black calls the impact remarkable, he says it goes beyond the dollars signs.

“We are involved in the cultural aspects of the community, through our arts programs. We are involved in the social issues of our community,” Black said.

Chancellor Black also announced UMD’s purchase of what will soon be the former Maurices building on Superior Street.

Black says the university will be transferring continuing education operations to the building, as well as business courses.