Analysis of the Return on Investment and Economic Impact of Education

FACT SHEET The Economic Value of Monroe Community College | November 2016

Monroe Community College (MCC) creates a significant positive impact on the business community and generates a return on investment to its major stakeholder groups—students, taxpayers, and society. Using a two-pronged approach that involves an economic impact analysis and an investment analysis, this study calculates the benefits to each of these groups. Results of the analysis reflect Fiscal Year (FY) 2014-15.

IMPACT ON BUSINESS COMMUNITY

IMPACTS CREATED BY MCC IN FY 2014-15

During the analysis year, MCC and its students added $895.2 million in added income to the Monroe County economy, approximately equal to 2.0% of the county’s total gross regional product. By comparison, this impact from the college is slightly larger than the Accommodation & Food Services industry in the region. The economic impacts of MCC break down as follows: Operations spending impact • MCC employed 1,805 full-time and part-time employees in FY 2014-15. Payroll amounted to $107.8 million , much of which was spent in Monroe County to purchase groceries, clothing, and other household goods and services. The college spent another $52.7 million to support its day-to-day operations. • The net impact of college payroll and expenses in Monroe County during the analysis year was approximately $145.6 million in added income. Impact of student spending • Around 16% of students attending MCC originated from outside the county. Some of these students relocated to Monroe County. In addition, a number of students would have left the county if not for MCC. These relocator and retained students spent money on groceries, transportation, rent, and so on at county businesses. • The expenditures of relocator and retained students during the analysis year added approximately $12.4 million in added income to the Monroe County economy.

ADDED INCOME

JOBS

$145.6 million 2,316

Operations spending impact

$12.4 million 225

Student spending impact

$737.3 million 10,155

Alumni impact

$895.2 million 12,696

Total impact

4 0 9 S . J A C K S O N S T R E E T , M O S C O W , I D A H O 8 3 8 4 3 | 2 0 8 - 8 8 3 - 3 5 0 0