CCBC has positive impact on state and local economies
Regional economy is $1.7 billion stronger due to CCBC

Maryland Association of Community Colleges has announced the findings of a recent study revealing that Maryland’s community colleges play a significant role in the state economy and are a sound investment from multiple perspectives. Results specific to the Community College of Baltimore County noted that CCBC not only boosts state and local economies, it also leverages taxpayer dollars and helps students earn more.

In regard to state and local economies, 95 percent of CCBC students remain in the state after graduation and contribute to its economic growth. Altogether, the CCBC service area economy owes roughly $1.7 billion of its current income to the annual operations of CCBC and the cumulative effects of its past students. Additionally, our communities gain benefits in improved health, lower crime costs and reduced welfare and unemployment to the tune of $9 million in avoided costs per year.

From a taxpayer’s perspective, for every dollar spent on CCBC by state and local government, taxpayers see a return of $3 in the form of higher tax revenues and avoided social costs. Taxpayers also see a real money return of 15 percent on their annual investments in CCBC.

On an individual level, investing in a degree at CCBC is worth a student’s time and effort. Students enjoy a 23 percent annual return on their investments of time and money at CCBC. A typical CCBC associate degree graduate earns $50,800 per year, 39 percent more than someone with a high school diploma. And, over the course of a working lifetime, an associate degree graduate from CCBC earns $443,330 more than someone with a high school diploma.

“We often see the positive impact that CCBC has on the community through the life-changing transformation of its students,” said CCBC President Sandra Kurtinitis. “However, through this study, we can actually quantify the economic impact CCBC has on the community as well. The return on investment is tremendous. Even during challenging economic times, CCBC is a real value to students, taxpayers and the local economy.”

The study, which looked at community colleges from across the state, was conducted by EMSI/CCbenefits Inc., a leading provider of socioeconomic impact and strategic planning tools to community and technical colleges. To date, the model developed by CCbenefits has been successfully applied to generate more than 700 such studies in the United States and Canada.

To see the study’s report in more detail, visit www.ccbcmd.edu/econ_impact.