The Socioeconomic Benefits Generated by Austin Community College. Executive Summary [and] Volume 1 [electronic resource] : Main Report [and] Volume 2: Detailed Results / Kjell A. Christophersen and M. Henry Robison.
This paper examines the ways in which the State of Texas economy benefits from the presence of Austin Community College (ACC). ACC pays $70.9 million in direct faculty and staff wages and salaries. The college pays wages and salaries, which generate additional incomes as they are spent, and their op...
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| Format: | Electronic eBook |
| Language: | English |
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2002.
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| Summary: | This paper examines the ways in which the State of Texas economy benefits from the presence of Austin Community College (ACC). ACC pays $70.9 million in direct faculty and staff wages and salaries. The college pays wages and salaries, which generate additional incomes as they are spent, and their operating and capital expenditures generate still further earnings. Altogether, these earnings account for $99.6 million annually in the ACC District economy--equal to that of 2,517 jobs. State and local government spent $54,525,472 in support of Austin Community College during the analysis year of 2001. This dollar amount is weighed against associated educational benefits in the future. This study argues that every dollar of local or state money spent on ACC returns a cumulative $4.59 over the next 5.5 years. Students benefit from an annual return of 26% on their investment of time and money. In addition, for every one dollar the student spends on their education, they will receive a cumulative $9.04 in higher future earnings over the next 30 years. The study concludes that ACC enriches the lives of students while reducing demand for tax-payer supported social services. The study quantifies the effects of ACC on reduction of crime, welfare, and unemployment. (Contains 20 tables and 37 references.) (NB) |
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| Item Description: | ERIC Document Number: ED482806. ERIC Note: Also prepared by CCbenefits, Inc. |
| Physical Description: | 87 pages. |