Connecticut State Colleges and Universities FY 2016-17 The economic value of Connecticut State Colleges and Universities ANALYSIS OF THE ECONOMIC IMPACT AND RETURN ON INVESTMENT OF EDUCATION

15+ years working with higher education institutions Emsi & Higher Education Institutions ADVISORS IN LABOR MARKET INFORMATION 15+ years working with higher education institutions 1,800+ economic impact studies completed 31 state systems have received economic impact studies from Emsi We have completed over 1,700 EIS across US, UK, and Canada (with over 83% done for US clients)

What is an ECONOMIC IMPACT ANALYSIS? Measures how an event or institution affects the state economy What is an INVESTMENT ANALYSIS? A comparison of the costs and benefits to determine the return on investment

Total Gross State Product (GSP) About Connecticut Average earnings by education level at career midpoint $273 billion 2,319,369 Total Gross State Product (GSP) Total Jobs

CSCU in FY 2016-17 118,605 23,129 $875 million 10,687 $351.6 million Credit students served Non-credit students served $875 million 10,687 Total payroll/benefits Employees $351.6 million 3% Total tuition revenue Students from outside the state

Overview of results $11.1 billion 22.2% 123,000+ 9.4% 4.1% Total income added to the state Rate of return to students 123,000+ 9.4% Total jobs supported in the state Rate of return to taxpayers 4.1% Of state’s GSP

Operations Spending Impact ECONOMIC IMPACT ANALYSIS Operations Spending Impact Research Spending Impact Construction Spending Impact Institution payroll and other spending + ripple effects Research payroll and other research spending + ripple effects Institution construction expenditures + ripple effects $980.1 million $5.3 million $29.4 million Added state income Added state income Added state income OR OR OR 12,264 60 465 Jobs supported in the state Jobs supported in the state Jobs supported in the state All results measured in income, not sales. Results are net of counterfactual scenarios.

Visitor Spending Impact ECONOMIC IMPACT ANALYSIS Visitor Spending Impact Student Spending Impact Alumni Impact Out-of-state visitor spending + ripple effects Relocated/retained student spending + ripple effects Higher alumni earnings and increased business profit + ripple effects $5.6 million $137.9 million $9.9 billion Added state income Added state income Added state income OR OR OR 127 2,222 108,215 Jobs supported in the state Jobs supported in the state Jobs supported in the state All results measured in income, not sales. Results are net of counterfactual scenarios.

1 19 Total Impact $11.1 billion 4.1% 123,000+ ECONOMIC IMPACT ANALYSIS Top industries impacted by cscu (jobs supported) Total income added in the state OR 4.1% Of state’s GSP 123,000+ Total jobs supported in the state OR 1 19 out of jobs in the state

6.6 3.8 11.7 22.2% 9.4% n/a INVESTMENT ANALYSIS Student Perspective Taxpayer Perspective Social Perspective $7 billion $2.4 billion $25.3 billion Benefit: Higher future earnings Benefit: Future tax revenue, government savings Benefit: Future earnings, tax revenue, private savings $1 billion $629 million $2.2 billion Cost: Tuition, supplies, opportunity cost Cost: State and local funding Cost: Student and all institution costs 6.6 3.8 11.7 Benefit/cost ratio Benefit/cost ratio Benefit/cost ratio 22.2% 9.4% n/a Rate of return Rate of return Rate of return Future benefits are discounted to the present.

Next Steps HOW CAN EMSI HELP? Share results with state & local media. Share industry impacts with state and local business partners. Send the executive summary to state legislators. Use campus fliers, newsletters, & websites to publish results. Use social media to broadcast student returns to prospective students and parents. Leverage impacts for proposals, grant writing, & strategic planning. HOW CAN EMSI HELP? Emsi’s press packet Ongoing presentations from your Emsi economist Email/call us anytime

Include your results in your periodic publications. Share your results Combine your results with other institutional highlights to create a fact sheet. Create a web page that includes written highlights, animations, and videos. Include your results in your periodic publications.

Share your results Use social media to share your investment results with prospective students. Create a press release and share with your state and local media. Use your study to help secure additional funding.

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