Leading research firm Emsi recently conducted an economic impact study on Pueblo Community College and other schools in the Colorado Community College System. The results clearly illustrate PCC’s value to its students and the communities it serves. (All figures are based on fiscal year 2015-16.)
PCC and its students (current and alumni) added $192.6 million in income to the school’s service area economy (Pueblo, Canon City, Mancos and Durango).
That annual total is the equivalent of 3,828 jobs and is equal to 1.9 percent of the region’s gross regional product.
PCC’s payroll for 591 employees totaled $29.3 million, much of which was spent in PCC’s service area. In addition, PCC spent $22.4 million on day-to-day operations.
PCC spent $437,800 on construction projects, providing a boost to the bottom line of multiple local businesses.
For every dollar spent on their education, PCC students will earn four times that in future income – a return on investment of 14.8 percent. In comparison, the average 10-year return on the U.S. stock market is 7.2 percent.
For every dollar spent to support the operation of PCC, taxpayers receive $4.50 in added taxes and reduced demand for government-funded services.
About 78 percent of PCC students stay in Colorado after completing their education, contributing to the local and state economies.
Emsi, a CareerBuilder company, is a leading provider of economic impact studies and labor market data to educational institutions, workforce planners, and regional developers in the U.S. and internationally. Since 2000, Emsi has completed over 1,700 economic impact studies for educational institutions in four countries. Visit www.economicmodeling.com for more information about Emsi’s products and services.