release header

September 7, 2016

Contact:

Alisha Rosas
Director, Marketing & Public Relations
(909) 652-6115
alisha.rosas@chaffey.edu               

For Immediate Release

CHAFFEY COLLEGE CONTRIBUTED $617 MILLION
TO LOCAL BUSINESS COMMUNITY IN 2014-15  


(Rancho Cucamonga) – Chaffey College recently released an economic impact study, “The Economic Value of Chaffey College,” showing how the college contributes to the economic growth of the areas it serves. In 2014-15, the total impact the college had on the local business community was more than $600 million in added income, student and alumni spending.

The study, conducted by Economic Modeling Specialists International (EMSI), provided an executive summary that highlighted key findings of the 2014-15 study, including:

  • Of the 1,191 full-time and part-time staff employed by Chaffey College, 45 percent of them lived in the cities the college serves, stimulating the regional economy through everyday spending
  • Chaffey added $83.6 million in added income to the region during the analysis year as a result of its day-to-day operations
  • Students attending the college generated $26.4 million in added income to the region through their spending while attending Chaffey
  • Since the college was established, thousands of students have studied and entered the regional workforce with new skills, resulting in $507.4 million in added income for the region (this figure represents the higher earnings that students earned during 2014-15, the increased output of the business that employed the students and the multiplier effect that occurred as students and their employers spent at other businesses)
  • The $617.3 million total impact supports 10,376 jobs, providing skilled workers in the areas of manufacturing, educational services, government/non education, health care/social assistance and accommodation and food services.

“Chaffey College helps contribute to a stronger community with each and every student that takes a class with us,” said Superintendent/President Dr. Henry Shannon. “For every $1 of public money invested in Chaffey, taxpayers receive $2.60 back over the course of our students’ working lifetimes.

“Our college generates more in tax revenue than we collect. As our students become educated and more skilled, they generate more income. This creates a domino effect. People who are educated have better health, commit less crime, and are more employable. This helps us be a better region overall, and Chaffey College is proud to be a part of that.”

In addition to the impacts to the region, Chaffey College students also benefit. When enrolled, they paid for tuition, fees, books and supplies; with many giving up money by not working during the time they were in class.

“Students make great sacrifices to attend college,” said Dean of Institutional Research, Policy and Grants Jim Fillpot. “For every $1 a student spends on his/her education, they receive a return on investment of $3.80. Meaning, a person who earns an associate degree at Chaffey College will see an increase in earnings of nearly $9,000 each year compared to someone with a high school diploma. When you add that up over someone’s working lifetime, it’s significant.”

Data for the economic impact study was based on several sources, including the fiscal year 2014-15 academic and financial reports from the college, industry and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, outputs of EMSI’s Social Accounting Matrix model and a variety of studies and surveys relating to education and social behavior. 

For a full description of the data and approach or to see the full study, please contact the Office of Institutional Research at (909) 652-6460.

 

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