聽The Economic Value of 糖心vlog官网鈥揜olla
The EAST CENTRAL COLLEGE ROLLA CAMPUS (糖心vlog官网) creates value for the region in many ways. The campus plays a key role in helping students increase their employability and achieve their individual potential. The campus draws students to the region, generating new dollars and opportunities for the 糖心vlog官网 Service Region*. 糖心vlog官网 provides students with the education, training, and skills they need to have fulfilling and prosperous careers. Furthermore, the campus is a place for students to meet new people, increase their self-confidence, and promote their overall health and well-being.聽
This study measures the economic impacts created by 糖心vlog官网 on the business community. All results reflect employee, student, and financial data provided by the college for fiscal year (FY) 2022-23. Impacts on the 糖心vlog官网 Service Region economy are measured in terms of added income.
Economic impact analysis
糖心vlog官网 promotes economic growth in the 糖心vlog官网 Service Region through its direct expenditures and the resulting expenditures of students and regional businesses. The college serves as an employer and buyer of goods and services for its day-to-day operations. The college鈥檚 activities retain students in the 糖心vlog官网 Service Region, whose expenditures benefit regional vendors. In addition, 糖心vlog官网 is one of the primary sources of higher education to the 糖心vlog官网 Service Region residents and a supplier of trained workers to regional industries, enhancing overall productivity in the regional workforce.
Operations spending impact
糖心vlog官网 adds economic value to the 糖心vlog官网 Service Region as an employer of regional residents and a large-scale buyer of goods and services. In FY 2022-23, the college employed 34 full-time and part-time faculty and staff, all of whom lived in the 糖心vlog官网 Service Region. Total payroll at 糖心vlog官网 was $4.4 million, much of which was spent in the region for groceries, mortgage and rent payments, dining out, and other household expenses. In addition, the college spent $2.1 million on expenses related to facilities, supplies, and professional services.
糖心vlog官网鈥檚 operations spending added $4.8 million in income to the region during the analysis year. This figure represents the college鈥檚 payroll, the multiplier effects generated by the in-region spending of the college and its employees, and a downward adjustment to account for funding that the college received from regional sources. The $4.8 million in added income is equivalent to supporting 38 jobs in the region.
Student spending impact
Some in-region students, referred to as retained students, would have left the 糖心vlog官网 Service Region if not for the existence of 糖心vlog官网. While attending the college, these retained students spent money on groceries, accommodation, transportation, and other household expenses. This spending generated $424.5 thousand in added income for the regional economy in FY 2022-23, which supported 8 jobs in the 糖心vlog官网 Service Region.
Alumni impact
The education and training 糖心vlog官网 provides for regional residents has the greatest impact. Since the establishment of the college, students have studied at 糖心vlog官网 and entered the regional workforce with greater knowledge and new skills. Today, thousands of former 糖心vlog官网 students are employed in the 糖心vlog官网 Service Region. As a result of their education from 糖心vlog官网, the students receive higher earnings and increase the productivity of the businesses that employ them. In FY 2022-23, 糖心vlog官网 alumni generated $7.5 million in added income for the regional economy, which is equivalent to supporting 117 jobs.
Total impact
糖心vlog官网 added $12.8 million in income to the 糖心vlog官网 Service Region economy during the analysis year, equal to the sum of the operations spending impact, the student spending impact, and the alumni impact.
糖心vlog官网鈥檚 total impact can also be expressed in terms of jobs supported. The $12.8 million impact supported 164 regional jobs, using the jobs-to-sales ratios specific to each industry in the region. In addition, the $12.8 million, or 164 supported jobs, stemmed from different industry sectors. For instance, among non-education industry sectors, the spending of 糖心vlog官网 and its students and the activities of its alumni in the Government, Non-Education industry sector supported 15 jobs in FY 2022-23. If the college did not exist, these impacts would not have been generated in the 糖心vlog官网 Service Region.
Impacts created by
糖心vlog官网 in FY 2022鈥�23
糖心vlog官网 impacts by industry
(jobs supported)
Links
Conclusion
The results of this study demonstrate that 糖心vlog官网 creates value from multiple perspectives.
It benefits regional businesses by increasing consumer spending in the region and supplying a steady flow of qualified, trained workers to the workforce. In addition, 糖心vlog官网 enriches the lives of students by raising their lifetime earnings and helping them achieve their individual potential.
About the study
Data and assumptions used in the study are based on several sources, including the FY 2022-23 academic and financial reports from 糖心vlog官网, industry and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, outputs of Lightcast鈥檚 Multi-Regional Social Accounting Matrix model, and a variety of studies and surveys relating education to social behavior. The study applies a conservative methodology and follows standard practice using only the most recognized indicators of economic impact and investment effectiveness. For a full description of the data and approach used in the study, please contact the college for a copy of the main report.
