According to an independent report by Lightcast, a global leader in labor market analytics, students and alumni of 窪蹋勛圖厙 Community College contributed $60.8 million to the Colleges service area economy, an amount equal to one out of every 64 jobs.
窪蹋勛圖厙 creates a significant positive impact on the business community and generates a return on investment to its major stakeholder groups, the report states. The college plays a key role in helping students increase their employability and achieve their individual potential.
The report states in FY 2023-24, the College employed 216 full-time and part-time faculty and staff, 92% of whom lived in the service area. Additionally, 窪蹋勛圖厙 invests in capital projects to maintain facilities and meet growing educational demands, making a substantial impact on the regional economy.
Thousands of former 窪蹋勛圖厙 students are employed in the service area. In FY 2023-24 alone, 窪蹋勛圖厙 alumni generated $40.3 million in added income, supporting the equivalent of 716 jobs.
Individually, students can expect a more than reasonable return on investment on their 2-year education. For every dollar a student invests in their education at 窪蹋勛圖厙, they can expect to gain $6.60 in lifetime earnings. State taxpayers will see $21 million in added tax revenue and public sector savings for every dollar invested into the system. Society will also benefit $6.90 in added incomes and social savings for every dollar.
窪蹋勛圖厙s economic impact is a testament to the value of a community college education, not only for our students but also for the businesses and industries that rely on a skilled workforce, said 窪蹋勛圖厙 President Dr. Brock Kelley. 窪蹋勛圖厙 is proud to play a vital role in strengthening our regional economy by equipping students with the education and training they need to succeed in high-demand careers. As our graduates thrive, so do our local businesses and communities we serve.
Additional report highlights:
The average 窪蹋勛圖厙 associate degree graduate will see an increase in earnings of $7,300 each year compared to someone with a high school diploma working in Alabama.
13% of students attending 窪蹋勛圖厙 originated from outside the region, with many relocating to the service area, generating $3.1 million in added income for the regional economy.
The net impact of the colleges operations spending added $15.7 million in income to the regional economy in FY 2023-24.
窪蹋勛圖厙s impact supports 1,063 jobs in the service area.
"Our students and graduates are working, earning, and reinvesting in Alabamas communities," said ACCS Chancellor Jimmy H. Baker. "Businesses across the state rely on them to keep operations strong. No other entity has a greater reach in education and workforce training, and we are committed to ensuring every student leaves our colleges prepared to contribute to their communities, their industries, and Alabamas economic growth.
Lightcast analyzed data using FY 2023-24 academic and financial reports from ACCS and 窪蹋勛圖厙, as well as industry and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau.