socioeconomic impact of

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socioeconomic impact of
Tri-County Technical College
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• Regional Analysis

College operations spending Student
spending Past student productivity
Investment Analysis
Student perspective Social perspective
Taxpayer perspective
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c o l l e g e o p e r a t i o n s s t u d e n t
s p e n d i n g p a s t s t u d e n t p r o d
u c t i v i t y
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c o l l e g e o p e r a t i o n s
Direct income of faculty and staff
Associated multiplier effects
Net of alternative use of funds
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net contribution to regional income
c o l l e g e o p e r a t i o n s
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s t u d e n t s p e n d i n g

• Spending by students from outside the region

Associated multiplier effects
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s t u d e n t s p e n d i n g
net contribution to regional income
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p a s t s t u d e n t p r o d u c t i v i t y

• Higher income of students still active in the
  workforce

Associated multiplier effects
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p a s t s t u d e n t p r o d u c t i v i t y
net contribution to regional income
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s t u d e n t p e r s p e c t i v e s o c i a l
p e r s p e c t i v e t a x p a y e r p e r s p
e c t i v e
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s t u d e n t p e r s p e c t i v e

• Benefitspresent value of increased future
  income

Coststuition, fees and opportunity cost of time
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s t u d e n t p e r s p e c t i v e
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s t u d e n t p e r s p e c t i v e
return on investment
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s t u d e n t p e r s p e c t i v e
benefit/cost ratio
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A s s o c i a t e s D e g r e e g r a d u a t
e s w i l l . . .
Earn an average of
more than someone with no HS diploma or GED
Over their future careers,
than someone with no HS diploma or GED
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s o c i a l p e r s p e c t i v e

• Education is statistically correlated with
  improved lifestyles

This translates into medical, crime and
unemployment savings to taxpayers
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s o c i a l p e r s p e c t i v e
annual savings
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t a x p a y e r p e r s p e c t i v e

• Benefitsadded tax revenue and avoided costs to
  government

Costsstate and local government funding
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t a x p a y e r p e r s p e c t i v e
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t a x p a y e r p e r s p e c t i v e
return on investment
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t a x p a y e r p e r s p e c t i v e
benefit/cost ratio
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So what does all this mean?
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Enriches the lives of students
Increases students lifetime income
Generates government revenue
Reduces the demand for social services
Contributes to the growth of the economy
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