Minneapolis / St. Paul Business Journal - by Ed Stych, Web Producer
Date: Monday, May 16, 2011, 10:05pm CDTGoogle (Nasdaq: GOOG) used a formula to figure out how its AdWords and AdSense products helped businesses.
The Mountain View, Calif.-based company believes those tools conservatively provided $64 billion in economic activity across the nation last year, or an average of $1.28 billion per state.
The formula Google used for AdWords was a little complicated, but the company believes that for every dollar a business spends on AdWords, it receives an average of $8 in profit.
For states bordering Minnesota, Google said it provided $643 million in economic activity for 22,000 Wisconsin businesses, $130 million for 10,000 Iowa businesses, $28 million in economic activity for 2,000 South Dakota businesses, and $23 million for 2,000 North Dakota businesses.
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