Lake Superior State University (LSSU) drives Michigan’s economy today while educating the workforce of tomorrow. In fiscal year 2024, LSSU students, alumni, and operations generated nearly $110 million in economic activity and supported approximately 465 jobs statewide, according to a new study.
The study, conducted by the Michigan Association of State Universities (MASU) and Anderson Economic Group, LLC (AEG), examined LSSU’s economic and workforce contributions for fiscal year 2024, including student spending, alumni earnings, and other economic activity.
Key findings include:
- Total Economic Impact: LSSU generated nearly $110 million in net new economic activity throughout Michigan in fiscal year 2024.
- Job Creation: The university supported approximately 465 new jobs statewide.
- Student Contribution: Fall 2024 student enrollment spending contributed nearly $8.3 million in net new economic output.
- Alumni Earnings: LSSU alumni earned approximately $388 million in post-tax, in-state earnings, including an estimated $56 million in incremental earnings attributed to salaries stemming from their LSSU degrees.
- Tax Revenue: LSSU contributed nearly $39 million in tax revenue to the state of Michigan in fiscal year 2024.
Together, these findings highlight that every Laker, from students to alumni and across all degree programs, contributes to meaningful economic and workforce improvements across Michigan.
These findings demonstrate that LSSU is a key contributor to Michigan’s economy, providing a significant return on investment for both students and the state.
By focusing on its mission to educate, retain, and empower students, the university continues to drive long-term economic growth.
LSSU President Dr. David Travis said the findings highlight the university’s impact across Michigan.
“LSSU graduates are critical to tomorrow’s workforce,” said Dr. Travis. “We are particularly proud that more than 80% of LSSU’s graduates remain in Michigan, many choosing to reside in the eastern Upper Peninsula of Michigan. These findings confirm that we not only educate students but also drive economic growth and meaningful returns on state investment.”
The full report is available upon request.