Annual Economic Impact 2025
Carleton and St. Olaf recently conducted an economic impact study to measure the colleges’ individual and collective impact on Rice County and the Northfield school district boundary.
Carleton’s Impact: Northfield School District
Total Economic Impact:
$127 million
Jobs Supported:
930
Local & State Taxes Generated:
$6.1 million
$2 Million
Pledged to the Reimagine Northfield High School project.
The multiplier effect recognizes that each dollar spent by the college or its employees creates a chain reaction of economic activity. This means that the total economic impact is greter than just the initial spending.
Direct Impact
in operational expenditures and jobs provided or created
Indirect Impact
including businesses Carleton contracts with, increasing their capacity as a result
Induced Impact
as respending by employees and contractors creates further local economic activity
$35,000
Lighten Up!
Carleton’s annual garage sale benefits Project Friendship, our local Special Olympics chapter, and the Northfield Union of Youth$30,000
Empty Bowls
This annual event is organized by Carleton with proceeds going to the Community Action Center51,594
Hours Contributed
Students engage in local community courses, volunteer programs, service internships, and community-based work study with local schools and nonprofitsCarleton College Rice County Impact
Total Economic Impact:
$141.8 million
Jobs Supported:
1,038
Local & State Taxes Generated:
$7.7 million
Carleton + St. Olaf Rice County Impact
Total Economic Impact:
$323.5 million
Jobs Supported:
2,252
Local & State Taxes Generated:
$16.8 million
Source: Carleton College and St. Olaf College Economic Impact in Northfield, MN, Parker Strategy Group, April 2025, based on 2022–2023 payroll and property tax data
Northfield's Top Property Taxpayers
- Post Consumer Brands
- Hegenes Properties
- McLane Minnesota
- Northern States Power Co.
- Strobel & Werner Real Estate
- Carleton College*
- Cardinal Glass
- St. Olaf College
- Target Corporation
- Community Resource Bank
*Including an annual donation to the city, Carleton is ranked sixth in Northfield property taxpayers and first among nonprofit organizations.
$198,407
Carleton property taxes paid
$80,000
Carleton annual donation to the City of Northfield
$542,438
Invested annually in the area agricultural sector through the purchase of local produce, meat, and dairy. This commitment strengthens the local economy and supports regional farms.
$371,458
Annual expenditure for essential municipal services, such as sewer, water, and waste removal, provided by or contracted with the city.
Beyond the Numbers
Carleton creates:
- Increased tax revenues for local government
- Support for local businesses
- Enhanced community services and infrastructure
- Attraction of new talent and businesses
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