Study: Central Piedmont Community College is asset to county
by Staff Writer
According to the study by Economic Modeling Specialists:
• For every dollar students invest in Central Piedmont Community College, they receive $3.10 back in the form of a higher future income over the span of their careers.
• Every dollar of state or local tax money invested in the school returns $2.
• The combined economic impact of the school’s operations, student/graduate earnings and increased business production generated by the school’s students and graduates equals $918.1 million a year, about 1.4 percent of the total Mecklenburg County economy.
Economic Modeling Specialists looked at a range of data, including the school’s 2009-10 academic and financial reports, U.S. Census Bureau industry and employments data and a variety of studies and surveys related to education and social behavior.
“The economic impact study confirms what Mecklenburg County citizens and leaders have known for almost half a century,” college President Tony Zeiss said in a news release. Central Piedmont “is making a real contribution by providing workforce development that helps this region attract new businesses and jobs, by developing training programs for local businesses and by training and educating the Mecklenburg workforce.”
Central Piedmont students and graduates expand the economic base through their higher incomes, while the businesses that employ them become more productive through the students’ added skills, the report said. Through these benefits and “associated ripple effects,” the school’s students and graduates contribute an estimated $157.9 million in taxable income to the state’s economy each year.
In clarifying its economic growth analysis, the report said the school also contributes to the local economy by purchasing goods and services, paying employee salaries and attracting students from outside of the county who spend money.
Read Economic Modeling Specialist’s report online at www.cpcc.edu/planning/studies-and-reports.