By: The Shelby Star
A new, in-depth economic impact analysis found Cleveland Community College has a $210.3 million annual impact on the regional economy – supporting more than 2,922 jobs.
Perhaps the greatest impact shown by the study is that of CCC’s alumni. The thousands of graduates trained at CCC, who are now working within the region generated $184.3 million.
“Cleveland Community College plays an important role in the economic health of our county and region,” said Jason Hurst, CCC president. “There are some big numbers in this study, but it’s much more than that. These numbers represent people; people whose lives the college has helped change. We are committed to strengthening our community by helping our students create better futures for themselves and their families.”
The report also assesses the economic impact of five CCC programs on the area economy, the return on investment for students, and the benefits generated for N.C. taxpayers.
The high-demand career pathways quantified in the report include jobs and programs related to Electrical Lineworker Academy, Associate Degree Nursing, Basic Law Enforcement Training, Welding and Medical Assisting.
Copies of CCC’s economic impact studies, fact sheets, and summaries can be found online at bigroifornc.org/cleveland/.
With support from the North Carolina General Assembly, leaders from the N.C. Association of Community College Presidents, the N.C. Community College System Office, the Center for Applied Research, N.C. State’s Belk Center for Community College Leadership and Research, and the John M. Belk Endowment formed to collaborate with national research leader Emsi Burning Glass to produce a regional Economic Impact Study for each of the state’s 58 community colleges, as well as an overall statewide report.
The studies found that each of North Carolina’s community colleges pumps millions of dollars into the regions they serve – creating jobs, wealth and opportunities for local residents. North Carolina’s 58 community colleges represent a combined $19 billion in annual impact on the state’s economy and support one out of every 19 jobs in the state.
“The return on investment in our community colleges is unmatched – not only for students and parents, but taxpayers and our entire state economy,” said N.C. Community College System President Thomas Stith. “We are proud of the contributions of our graduates and employees to enhance and strengthen our North Carolina communities.”
The economic impact study found for every dollar the state invests in North Carolina’s Community Colleges, the state gains $7.50 in added incomes and social savings. The colleges generate nearly double the revenue from what they take in from the taxpayers.
For every $1 the state invests, taxpayers get $1.90 back in added tax revenues and public sector savings.
“It’s been a privilege to have worked and supported our education partners on this study from the beginning as I was confident the results would blow us away. And it did. I think it’s fair to say not many government funded programs generate more revenue than they take in from taxpayers,” said State Senator Deanna Ballard, chair of the Senate Education Committee. “It’s critical that our high school graduates and adults looking to gain new skills take advantage of the incredible opportunities that their local community college provides.”
Students who graduate with an associate degree from a N.C. community college will see an increase in earnings of up to $7,000 or more each year compared to a person with a high school diploma or equivalent. If the student builds upon their associate degree to then earn a bachelor’s degree, their annual income also doubles on average.
Want to know more?
More information about the statewide economic impact studies can be found at BigROIforNC.org including the state report, as well as reports, fact sheets, and summaries for each of North Carolina’s 58 community colleges.
