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Economic Value of Iowa's Community Colleges

The recently released Economic Impact report about Iowa's Community Colleges shows a $5.5 billion impact to Iowa’s economy, including the support of 87,149 jobs to Iowans during the last year.

Iowa’s Community Colleges provide lasting impact to students, taxpayers, and society. The report includes an investment analysis for each of those groups:

  • Students see a return of $6.30 in higher future earnings for every dollar they invest in their education and an average annual rate of return of 24.9%.
  • For every dollar of public money invested in the Community Colleges, taxpayers receive $2.50 in and have an average annual rate of return of 6.2%.
  • Society benefits from $277.9 million of public and private sector savings, receiving $8.60 in return for every dollar spent for as long as students remain active in the state workforce. Iowa’s 15 Community Colleges and their students support one out of 23 jobs in the state. Disaggregated, construction spending supports 352 jobs, student spending supports 3,936 jobs, and alumni working in Iowa supports 71,230 jobs

Iowa's 15 Community Colleges and their students support one out of 23 jobs in the state. Disaggregated, construction spending supports 352 jobs, student spending supports 3,936 jobs, and alumni working in Iowa supports 71,230 jobs.

an infographic titled: The Economic Value of Iowa's Community Colleges (reflects FY 2019-20). About Iowa's Community Colleges: 127.013 credit students, 145,814 non-credit students, 11,744 employees. 1 out of every 23 jobs in Iowa is supported by the activities of Iowa's Community Colleges and their students. Economic Impact Analysis: Alumni Impact: Impact of the increased earnings of Iowa's community colleges alumni and the businesses they work for. An economic boost similar to hosting the Super Bowl 14 times or $4.8 billion in added income and 71,230 jobs supported. Operations Spending Impact: Impact of annual payroll and other spending is enough to buy 15,464 new cars or $519 million in added income that supports 11,631 jobs. Student spending impact: impact of the daily spending of Iowa's community college students attracted to or retained in the state. Enough to buy 14,577 families of 4 a year's worth of groceries or $181.2 million added income and 3,936 jobs supported. Construction spending impact (impact of expenditures for ongoing construction projects) is $23.9 million in added income or 352 jobs supported. The total annual impact of Iowa's Community Colleges is $5.5 billion added income or 87,149 jobs supported. Investment analysis: For every $1 students gain $6.30 in lifetime earnings. Taxpayers gain $2.50 in added tax revenue and public sector savings. Society gains $8.60 in added income and social savings. The average associate degree graduate from Iowa's community colleges will see an increase in earnings of $7,900 each year compared to someone with a high school diploma working in Iowa. (a bar graph is beside this data showing: without finishing high school, average annual earnings is $22,500; high school diploma is $30,100; certificate is $33,800; associate's is $38,000; bachelor's is $51,000)      

February 15, 2022 Report Press Release

Main Report

Executive Summary

Fact Sheet

Infographic

PowerPoint 

 

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