Analysis of the Economic Impact and Return on Investment of Education.

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Presentation transcript:

Analysis of the Economic Impact and Return on Investment of Education

What is an economic impact analysis? Measures how an event or institution affects the local economy. What is an investment analysis? A comparison of the costs and benefits to determine the return on investment.

Average earnings by education level at career midpoint Total gross regional product (GRP) Total jobs

Operations Spending Impact Construction Spending Impact College payroll and other spending + ripple effects College construction expenditures + ripple effects added regional income added regional income or or Jobs supported in the region Job supported in the region All results measured in income, not sales. Results are net of counterfactual scenarios.

Student Spending Impact Alumni Impact Relocated/Retained student spending + ripple effects Alumni Impact Higher alumni earnings and increased business profit + ripple effects added regional income added regional income or or Jobs supported in the region Jobs supported in the region All results measured in income, not sales. Results are net of counterfactual scenarios.

N/A Taxpayer Perspective Student Perspective Social Perspective Benefit: Future tax revenue, government savings Benefit/Cost ratio Rate of return Cost: State and local funding Student Perspective Social Perspective Benefit: Future earnings, tax revenue, private savings Benefit/Cost ratio Rate of return N/A Cost: Student and all college costs Benefit: Higher future earnings Cost: Tuition, supplies, opportunity cost Benefit/Cost ratio Rate of return Future benefits are discounted to the present.

SECONDARY EDUCATION IMPACT

OVERVIEW OF RESULTS total income Added in the REGION Total Jobs supported in the REGION Rate of return to students Rate of return to taxpayers of REGION’s GRP

Next Steps How can YOU help? Read about and understand the positive economic impact our college has in the region. Share facts about our college’s impact to industry with our local business partners. Talk with your neighbors, taxpayers and others about Southwestern’s return on investment for our students and communities.

The results of this study were prepared by For a copy of the report, please contact the College.