IVCCD shares Economic Impact Study results
Wednesday / October 23, 2019
Iowa Valley Community College District (IVCCD) was recently cited by the Iowa Department of Education as having the #1 student transfer rate and the #3 student success rate (graduation rate + transfer rate) among all of Iowa’s community colleges. Having recently commissioned an economic impact study with EMSI, the District and its colleges are now also spreading the word about their impact on the region.
“When we took our general obligation bond issue to voters last April, several of our business partners asked about our economic impact on the Central Iowa counties we serve,” says Dr. Kristie Fisher, IVCCD Chancellor. “We didn’t know the answer to that question, so we commissioned EMSI to conduct an economic impact survey. We are now pleased to report these amazing results to our business partners, taxpayers, students, alumni and other stakeholders.”
- In FY2018, IVCCD’s total annual economic impact on the service region was $293.6 million in added income. This annual impact supported 4,588 jobs in the service region.
- In terms of its own operations spending, IVCCD added $21.9 million to the service region, supporting 882 jobs.
- Student spending during that timeframe was another $4.6 million of added income, supporting another 109 jobs.
- Most significantly, the District’s alumni impact on the service region was another $267.1 million, or 3,597 jobs.
- The average associate degree graduate from ECC/MCC will see an increase in earnings of $7,100 each year compared to someone with a high school diploma working in Iowa.
- For every $1 spent on an ECC/MCC education, students gain $6.30 in additional lifetime earnings.
- For every $1 spent by taxpayers in support of IVCCD, those taxpayers gain $2.30 in added tax revenue and public sector savings.
- For every $1 invested in IVCCD, society gains $10 in added state revenue and social savings.
- In FY2018, IVCCD enrolled 3,563 credit students (Ellsworth Community College, Marshalltown Community College, Iowa Valley Grinnell)and 4,234 non-credit students (Iowa Valley Continuing Education) and employed 833 people.
NOTE: The EMSI study was based on IVCCD data from Fiscal Year 2017-2018 (FY2018), the most recent year for which complete data was available.
IVCCD operates Ellsworth Community College (Iowa Falls), Marshalltown Community College, Iowa Valley Continuing Education, and Iowa Valley Grinnell (a satellite campus of MCC). The District’s service area includes all of Hardin, Marshall, Poweshiek and Tama Counties, plus portions of Butler, Franklin, Grundy, Hamilton, Jasper and Story Counties.
A complete copy of the IVCCD Economic Impact Study conducted by EMSI is available on the District’s website.