Southeast Community College has a
tremendous positive regional economic impact, according to a recent
analysis conducted by Economic Modeling Specialists Intl. of
EMSI, a CareerBuilder company,
released its findings in December 2013. It used data from the
2012-2013 fiscal year as the basis for its report.
Among its findings:
- During the analysis year, SCC and its students added $741.4
million in income to the SCC service area economy, approximately
equal to 3.6 percent of the region's Gross Regional Product. That
included an employee payroll of $62.4 million, much of which was
spent in SCC's service area. The college spent another $48.2
million to support its day-to-day operations.
- In FY 2012-2013, state and local taxpayers in Nebraska paid
$50.7 million to support the operations of SCC. For every dollar of
public money spent on SCC, taxpayers receive a cumulative return of
$4.10 over the course of students' working lives in the form of
higher tax receipts and public sector savings, and society will
receive a cumulative value of $50.10 in benefits for every dollar
spent for as long as SCC's 2012-2013 students remain active in the
- Taxpayers see an annual return of 12.3 percent on their
investment in SCC. This return compares favorably with the 1.1
percent discount rate used by the federal government to appraise
- SCC's 2012-2013 students will receive an average annual rate of
return of 16.9 percent on their investment in the college. This
rate of return continues throughout their working lives. Had
students and their families taken the money they spent on education
and invested it instead in a standard bank savings account, they
would have received a rate of return of less than 1 percent.
- On average, SCC's 2012-2013 students will receive a cumulative
$3.50 in higher future income for every dollar they invested in
- Over the years, students have studied at SCC and entered and
re-entered the workforce with newly-acquired skills. Today,
thousands of former students are employed in SCC's 15-county
service area. In FY 2012-2013, the effect of former SCC students on
the regional economy amounted to $653.3 million in added
- Job equivalents are a measure of the average-wage jobs that a
given amount of income can potentially support. Based on the added
income created by SCC, the effect of college operations equals
1,928 job equivalents, the effect of student spending equals 233
job equivalents, and the effect of student productivity equals
16,024 job equivalents. Overall, the added income created by SCC
and its students supported 18,185 job equivalents.
Dr. Jack Huck, SCC president, said
the study validates the College's value to the 15-county service
area, the state of Nebraska and the entire region.
"The benefits SCC provides to the
business community, students, society, and taxpayers are
well-documented in the study," Huck said. "SCC is a solid
investment for state and local taxpayers, increases the earning
potential of students who earn an associate degree, and saves
society millions of dollars as it relates to health, crime and
Huck said the data conveys a
positive message that is sometimes a challenge to communicate.
"We produce internal reports that
provide us with valuable information, including how many of our
graduates obtain jobs or continue their education," Huck said. "But
this economic impact study really demonstrates the value of
Southeast Community College."
For the past 13 years EMSI has
produced economic impact studies for community colleges,
universities and workforce investment boards. EMSI turns labor
market data into useful information that helps organizations
understand the connection between economies, people and work.
To view SCC's entire six-part
report, go to http://bit.ly/1g1g3Um.