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Socioeconomic impact of Wharton County Junior College.

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Presentation on theme: "Socioeconomic impact of Wharton County Junior College."— Presentation transcript:

1 socioeconomic impact of Wharton County Junior College

2 Investment analysis Economic growth analysis study consists of…

3 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

4 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

5 net contribution to area income c o l l e g e o p e r a t i o n s gross contribution to area income

6 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

7 net 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

8 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

9 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

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11 return on investment s t u d e n t p e r s p e c t i v e

12 benefit/cost ratio s t u d e n t p e r s p e c t i v e

13 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 an average of more than someone with a high school diploma Over their future careers,

14 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

15 annual savings s o c i a l p e r s p e c t i v e

16 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

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18 return on investment t a x p a y e r p e r s p e c t i v e

19 benefit/cost ratio t a x p a y e r p e r s p e c t i v e

20 So what does all this mean?

21 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

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