LAKEWOOD, CO – Economic Modeling Specialists, a leading provider of economic impact studies and labor market data, recently studied the impact of Red Rocks Community College and the others in the Colorado Community College System. The results of this study show that RRCC creates a tremendously positive net impact on the regional economy and generates a positive return on investment for students, taxpayers, and society.
RRCC promotes growth in our service area in a variety of ways. The college is an employer and buyer of goods and services, and the living expenses of the college’s students benefit local businesses. In addition, RRCC is a primary source of education to area residents and a supplier of trained workers to regional industries. The study reported that RRCC and its students added $257 million in income to our community in 2015-16 in the form of jobs, living expenses, and other purchases.
In addition, during the analysis year, former students of RRCC generated $198.4 million in added income for the region. This figure represents the higher earnings that students earned during the year, the increased output of the businesses that employed the students, and the multiplier effects that occurred as students and their employers spent money at other businesses. This $198.4 million in added income is equivalent to supporting 3,490 jobs.
“Red Rocks is proud to work hand-in-hand with our local community to support workforce training,” said Dr. Michele Haney, President of Red Rocks Community College. “We listen to their needs and create programs that are necessary for a growing workforce and economy.”
The following are additional highlights from the report:
•Students receive a 12% rate of return per $1 invested
•For every dollar spent on an RRCC education, society receives $9.70 in benefits
•Taxpayers receive a 15.7% rate of return per every dollar spent in state taxes
Take a look at the unique value we offer and read the full report at www.rrcc.edu/our–value.
More about Red Rocks Community College: Established in 1969, Red Rocks Community College delivers high-quality, affordable education programs leading to two-year degrees or professional certificates. The college serves over 10,000 students per year online and at campus locations in Lakewood and Arvada. www.rrcc.edu.
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