POSTED: Thursday, January 5, 2012 - 8:03pm
UPDATED: Monday, January 9, 2012 - 10:19am
LAS CRUCES - Anyone living in a town with a major university knows colleges and college students have a major impact on the local economy.
But, researchers at New Mexico State University (NMSU) have quantified-- to the dollar, just how much money their university makes for the state of New Mexico.
NMSU said in the year 2010 alone, the university generated more than $900 million and brought 10 thousand jobs to the state.
The study, which didn't count in-state students, indicated the biggest contributer by far, was alumni who stayed in the state after graduation.
One alumnus opened a restaurant right across from campus.
"I graduated from NMSU, so you have to support the local economy, so New Mexico is a very low economy state...people graduate and move on to other states and support their economies. So, i think it's important to support our New Mexico economy here,” said James Day, a business owner.
Day said today was a perfect example of how NMSU affects his business. Since school is out, business has been slow at his restaurant.
Classes at NMSU resume in two weeks.