Socioeconomic impact of Wharton County Junior College.

socioeconomic impact of

Wharton County Junior

College

Investment analysis

Economic growth analysis

study consists of…

c o l l e g e o p e r a t i o n s

p a s t s t u d e n t p r o d u c t i v i t y

• Direct income of faculty and staff

• Associated multiplier effects

• Net of alternative use of funds

c o l l e g e o p e r a t i o n s

$19.3 millionnet contribution to area income

c o l l e g e o p e r a t i o n s

$23.6 milliongross contribution to area income

• Higher income of past and present students still active in the service area workforce

• Associated multiplier effects

p a s t s t u d e n t p r o d u c t i v i t y

$269.0 millionnet contribution to area income

p a s t s t u d e n t p r o d u c t i v i t y

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

• Benefits—present value of increased future income

• Costs—tuition, fees and opportunity cost of time

s t u d e n t p e r s p e c t i v e

Benefits $344.5 million

Costs $51.5 million

s t u d e n t p e r s p e c t i v e

17.6%return on investment

s t u d e n t p e r s p e c t i v e

6.7benefit/cost ratio

s t u d e n t p e r s p e c t i v e

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 . . .

than someone with a high school diploma

earn $380,000 more

• Earn an average of$33,600 per year, 37.7%more than someone with a high school diploma

• Over their future careers,

• Education is statistically correlated with improved lifestyles

• This translates into medical, crime and unemployment savings to taxpayers

s o c i a l p e r s p e c t i v e

$2.6 millionannual savings

s o c i a l p e r s p e c t i v e

Medical $1.1 million

Crime $1.2 million

Welfare/Unempl $250,800

• Benefits—added tax revenue and avoided costs to government

• Costs—state and local government funding

t a x p a y e r p e r s p e c t i v e

Benefits $52.6 million

Costs $18.4 million

t a x p a y e r p e r s p e c t i v e

11.3%return on investment

t a x p a y e r p e r s p e c t i v e

2.9benefit/cost ratio

t a x p a y e r p e r s p e c t i v e

So what does all

this mean?

Wharton County Junior

College

• Enriches the lives of students

• Contributes to the growth of the economy

• Reduces the demand for social services

• Generates government revenue

• Increases students’ lifetime income