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Published December 28, 2010, 04:01 PM

ND Universities Laud System's Impact on Economy

The North Dakota University System says its impact on the state's economy is worth $3.7 billion a year. The system, which includes the University of North Dakota and North Dakota State University, released a study Tuesday of its effect on North Dakota's economy.

By: Associated Press,

BISMARCK, N.D. (AP) — The North Dakota University System says its impact on the state's economy is worth $3.7 billion a year.

The system, which includes the University of North Dakota and North Dakota State University, released a study Tuesday of its effect on North Dakota's economy.

The study estimated that state universities contributed almost $1 billion into local economies in the 2009 fiscal year and another $300 million through student spending.

According to the study, that money multiplies when cycled through the state's economy.

In a statement, university system chancellor Bill Goetz argued that North Dakota's investments in higher education pay off later.

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