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Tri-County Technical College

Tri-County Technical College. September 2013. Calculate initial sales generated in region Derive sales created by multiplier effects Convert results to income . College payroll. $32.6 million. Income created by the spending of the college and its employees.

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Tri-County Technical College

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  1. Tri-County Technical College September 2013

  2. Calculate initial sales generated in region • Derive sales created by multiplier effects • Convert results to income

  3. College payroll $32.6 million Income created by the spending of the college and its employees

  4. Income created by the spending of out-of-region students $3.3 million Income created by the spending of businesses patronized by students

  5. Higher wages of former students + increased output of businesses $163.4 million Income created by the spending of students and businesses

  6. Calculate benefits and coststo stakeholders • Derive the future benefits stream • Discount resultsto current-year dollars • Determine net present value, benefit-cost ratio, and rate of return

  7. Present value of benefits$346.4 million Present value of costs $89.3 million Net present value (benefits minus costs) $257.1 million Benefit-cost ratio (benefits divided by costs) 3.9 Rate of return 15.3% Benefits= Greater job opportunities + higher lifetime income Costs = Tuition and fees + books and supplies + forgone time and money

  8. Present value of benefits$949.8 million Present value of costs $20.6 million Net present value (benefits minus costs $929.2 million Benefit-cost ratio (benefits divided by costs) 46.2 Benefits = Expanded economic base + savings related to improved health, reduced crime, and reduced unemployment Costs = State and local government funding

  9. Present value of benefits$63.5 million Present value of costs $20.6 million Net present value (benefits minus costs $43.0 million Benefit-cost ratio (benefits divided by costs) 3.1 Rate of return 7.4% Benefits =Added tax revenues + reduced demand for government services Costs = State and local government funding

  10. Creates new incomein the region • Supports local jobs • Sustains a skilled workforce • Increases students’ lifetime income • Expands thestate’s economic base • Improves quality of life Tri-County Technical College

  11. The results of this study were prepared by For a copy of the report, please contact the college.

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