Economic Leakage Analysis Calculator Minnesota

Introduction & Importance

Economic leakage analysis is crucial for understanding and addressing the outflow of money from Minnesota’s local economies. This calculator helps you estimate the economic impact of leakage and the potential benefits of keeping money local.

How to Use This Calculator

1. Enter your annual income.
2. Enter your annual savings rate (as a decimal).
3. Select an estimated leakage rate.
4. Click ‘Calculate’.

Formula & Methodology

The calculator uses the following formula to estimate the economic leakage:

Leakage = Income * Savings Rate * Leakage Rate

Real-World Examples

Data & Statistics

Average Annual Income and Savings Rate in Minnesota

Year	Average Income	Average Savings Rate

Estimated Economic Leakage in Minnesota

Expert Tips

• Consider using local banks and credit unions to keep your money local.
• Support local businesses to reduce leakage in your community.

Interactive FAQ

What is economic leakage?

Economic leakage refers to the outflow of money from a local economy due to purchases made from outside the area.

Minnesota Department of Employment and Economic Development

Federal Reserve Bank of Minneapolis