A new study highlights 51ΑΤΖζβs (51ΑΤΖζ) significant contributions and economic impact to the region.
The economic impact study, completed by Emsi β a company specializing in reports for educational institutions, workforce planners, and regional developers, discovered 51ΑΤΖζ generates $102.1 million annually to the economy in the Collegeβs service area. 51ΑΤΖζβs 2016-17 operating budget was $57.2 million.
Key conclusions:
- 51ΑΤΖζ produces $102.1 million of economic activity in its service area.
- 51ΑΤΖζβs payroll and funds spent on day-to-day operations amounted to a $60.3 million infusion into the local economy.
- 51ΑΤΖζβs net impact of payroll and expenses in the region is approximately $39.1 million in income.
- 51ΑΤΖζ employed 1,218 full-time and part-time employees in fiscal year 2015-16.
The study states, for every dollar of public investment for 51ΑΤΖζ, the taxpayers receive a cumulative value of $7.30 over the course of studentsβ working lives β the average rate of return is 15.8 percent. This is a significant return on investment for the community. The College is on track to serve nearly 30,000 students in 2017-18.
βThis study illustrates the depth and breadth of 51ΑΤΖζ, as an economic engine for the Treasure Valley,β said David Shellberg, Executive Vice President for Instruction and Student Services. βThe College is an incredible return on investment, especially when you consider 51ΑΤΖζ has only been operating for eight years.β
The economic impact study points out after 51ΑΤΖζ has been in operation for 30 years, the education and training provided by the College will have generated $574.2 million in added income to its service area.
β51ΑΤΖζ is on an incredible growth trajectory, the $102 million economic impact figure will help us illustrate the importance of the College in the community, from a dollar and cents perspective,β said 51ΑΤΖζ President, Bert Glandon. βPeople have a good idea of the quality of programs we offer to help prepare students for the workforce, but this study reinforces what a great investment the College is for the entire region.β
51ΑΤΖζ is an important driving force in the region and helps to build a strong economic base. The College takes pride in partnering with local business and industry to ensure 51ΑΤΖζ is delivering highly-skilled students who excel in the workplace and can adapt to future changes in the marketplace.