An economic impact study found that Clatsop Community College creates millions of dollars in value for the state’s economy and plays a key role in helping students increase their employability and achieve their goals.
The report, based on 2021-22 data, found that CCC added $112.5 million in income, or supported 1,556 jobs, to the region’s economy. This contribution is a value approximately equal to 5% of the region’s total gross regional product. In addition, the report found that for every dollar of public money invested in CCC, taxpayers will receive $5.10 in return, over the course of students’ working lives.
The economic impact report came from Lightcast, a labor market analytics firm that provides economic impact studies and labor market data to educational institutions in the U.S. and internationally.
Lightcast’s economic impact study reported, “CCC influences both the lives of its students and the county economy. The college supports a variety of industries in Clatsop County, serves county businesses, and benefits society as a whole in Oregon from an expanded economy and improved quality of life. Additionally, the benefits created by CCC extend to the state and local government through increased tax revenues and public sector savings.”
Key Highlights
- The net impact of the college’s operations spending added $11.7 million in income to the regional economy.
- The expenditures of attracted and retained students added $3.5 million in income to economy.
- Impact of CCC’s former students currently employed in the regional workforce amounted to $97.4 million in added income.
- For every dollar invested in CCC in 2021-22, people in Oregon will receive $5.10 in return, for as long as these students remain active in the state workforce.
The analysis concluded that CCC is a strong investment for all three major stakeholder groups—students, taxpayers and society.
The report added, “The results of this study demonstrate that CCC creates value from multiple perspectives. The college benefits county businesses by increasing consumer spending in the county and supplying a steady flow of qualified, trained workers to the workforce. CCC enriches the lives of students by raising their lifetime earnings and helping them achieve their individual potential. The college benefits state and local taxpayers through increased tax receipts and a reduced demand for government-supported social services. Finally, CCC benefits society as a whole in Oregon by creating a more prosperous economy and generating a variety of savings through the improved lifestyles of students.”
The Oregon Community College Association (OCCA) commissioned the impact studies for all 17 community colleges in Oregon through Lightcast, and released the cumulative report this week showcasing the overall impact that community colleges have on Oregon’s economy which collectively generate an impressive $9.6 billion annual economic impact while supporting 1 out of every 22 jobs in the state. More information on OCCA can be found at https://occa17.com/economic-impact/.
