Analysis of the Economic Impact and Return on Investment of - PowerPoint PPT Presentation

Analysis of the Economic Impact and Return on Investment of Education The economic value of Contra Costa Community College District FY 2016-17

Emsi & Community Colleges A D VI SOR S I N L A B O R M A R K E T I NFOR M ATI ON 15+ 1/2+ Years working with Of U.S. community colleges have community colleges used Emsi’s economic impact studies 1.2M 6 of 10 Students used Emsi’s career 2017 Aspen Prize finalists pathways tools last year are Emsi customers

WHAT IS AN ECONOMIC IMPACT ANALYSIS? Measures how an event or institution affects the local economy. WHAT IS AN INVESTMENT ANALYSIS? A comparison of the costs and benefits to determine the return on investment.

About Contra Costa County A V E R A G E E A R N I N G S B Y E D U C A T I O N L E V E L A T C A R E E R M I D P O I N T $70,500 $48,100 $78 billion $41,700 $36,700 T O T A L G R O S S R E G I O N A L P R O D U C T ( G R P ) $28,600 565,318 T O T A L J O B S < HS HS Certificate Associate Bachelor's

4CD in FY 2016-17 $198.4 million 51,281 C R E D I T S T U D E N T S S E R V E D T O T A L P A Y R O L L / B E N E F I T S $34.3 million 4,559 T O T A L T U I T I O N R E V E N U E E M P L O Y E E S 3,054 14% S T U D E N T S F R O M O U T S I D E D E G R E E S & C E R T I F I C A T E S T H E R E G I O N A W A R D E D

OVERVIEW OF RESULTS $1.8 billion 22,510 T O T A L I N C O M E A D D E D T O T A L J O B S S U P P O R T E D I N T H E R E G I O N I N T H E R E G I O N 18.6% 8.1% R A T E O F R E T U R N T O S T U D E N T S R A T E O F R E T U R N T O T A X P A Y E R S 2.3% O F R E G I O N ’ S G R P

Operations Student Alumni Spending Impact Spending Impact Impact Higher alumni earnings College payroll and other Retained student spending + and increased business profit spending + ripple effects ripple effects + ripple effects $270.6 million $34.8 million $1.5 billion A D D E D R E G I O N A L A D D E D R E G I O N A L A D D E D R E G I O N A L I N C O M E I N C O M E I N C O M E or or or 5,390 313 16,807 J O B S S U P P O R T E D J O B S S U P P O R T E D J O B S S U P P O R T E D I N T H E R E G I O N I N T H E R E G I O N I N T H E R E G I O N All results measured in income, not sales. Results are net of counterfactual scenarios.

Total Impact $1.8 billion I M P A C T S B Y I N D U S T R Y T O T A L I N C O M E A D D E D I N T H E R E G I O N or 25,000 2.3% Health Care & Social Assistance 3,249 20,000 O F R E G I O N ’ S G R P 2,361 1,224 Professional & Technical 15,000 Services JOBS 22,510 Other Services (except Public 10,000 Administration) T O T A L J O B S S U P P O R T E D 15,677 I N T H E R E G I O N 5,000 All Other or 1 out of every 25 0 J O B S I N T H E R E G I O N

Student Taxpayer Social Perspective Perspective Perspective $1.4 billion $749.6 million $9.5 billion Benefit: Higher future Benefit: Future tax revenue, Benefit: Future earnings, tax earnings government savings revenue, private savings $220.1 million $231.4 million $521.8 million Cost: Tuition, supplies, Cost: State and Cost: Student and opportunity cost local funding all college costs 6.3 3.2 18.2 B E N E F I T / C O S T R A T I O B E N E F I T / C O S T R A T I O B E N E F I T / C O S T R A T I O 18.6% 8.1% N/A R A T E O F R E T U R N R A T E O F R E T U R N R A T E O F R E T U R N Future benefits are discounted to the present.

The results of this study were prepared by F O R A C O P Y O F T H E R E P O R T , P L E A S E C O N T A C T T H E D I S T R I C T .