STUDY SHOWS FOND DU LAC TRIBAL AND COMMUNITY COLLEGE CONTRIBUTES $38 MILLION AND 459 JOBS TO REGIONAL ECONOMY
Fond du Lac Tribal and Community College released this week the results of a study that estimates the college’s economic impact on the regional economy to be $38 million and 459 jobs.
“While most of the time we are focusing on the success of our students and the quality of our academic programs, Fond du Lac Tribal and Community College also plays a vital role in supporting our state and regional economy,” said FDLTCC President Larry Anderson. “Our college operations and the economic activity generated by our faculty, staff, and students reach nearly every corner of our regional economy and support local business and industry.”
The study was conducted by Wilder Research, a nationally recognized source of data used by state and local planners, policy makers and service providers.
“This economic impact research provides a statistically valid measurement of the significance of an organization’s activities on the regional economy,” said Jose Diaz, research scientist for Wilder Research. “Policy makers and community leaders can use the data to inform their decisions. Fond du Lac Tribal and Community College clearly has a significant impact on the regional economy.”
The study also concluded that FDLTCC generates approximately $2.0 million in tax revenues for state and local government.
The study further estimated the value of the increase in productivity that the 203 associate degrees awarded by FDLTCC in 2011 will yield throughout the careers of the graduates. Assuming a 40-year work life, the education received by this one group of graduates will yield additional state income of $12.3 million of future value.
“Fond du Lac Tribal and Community College makes a long-term contribution to the regional economy with every graduating class because the productivity improvements from higher education last for the worker’s entire career,” said Diaz.
On a statewide level, the Wilder study shows the 24 community and technical colleges and the seven state universities that are part of the Minnesota State Colleges and Universities System:
● Generate an annual economic impact of $8.3 billion (direct impact of $5 billion and indirect impact in other industries of $3.3 billion).
● Represent a return of $13.53 for each $1 of state appropriation.
● Generate an estimated 80,856 jobs in the state (56,876 direct jobs and 23,979 additional indirect jobs created by vendors, contractors and businesses supplying inputs to our colleges and universities and their students).
● Generate approximately $490 million in tax revenues for Minnesota state and local governments.
In addition to the impact outlined above, the enhanced productivity of MnSCU graduates across the state is equivalent to $4.7 billion of future value created each year.
Founded in 1987, Fond du Lac Tribal and Community College is celebrating its 25th anniversary during the 2012-2013 school year. The college annually enrolls approximately 2,800 students in credit-based courses delivered during daytime, evening and weekend courses on campus, via online courses, and at outreach sites.