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N.D. universities laud system's impact on economy

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.