Onondaga Community College is creating a significant positive impact on the business community while generating a return on investment to students, taxpayers and society. Those are among the findings in a study of the College’s impact completed in April 2017 by Economic Modeling Specialists International. Among the report’s highlights:
- Impact on Business – During the analysis year OCC and its students added $496 million in income to Central New York’s economy, approximately equal to 1.3% of the region’s total gross regional product.
- Alumni Impact – The accumulated contribution of former students currently employed in the regional work force amounted to $378.1 million in added income during the analysis year.
- Impact on Students – Each dollar students invested in their education will result in a $5.80 increase in lifetime earnings. Students’ average annual return on investment is 18%.
- Benefit to Taxpayers – Every dollar of taxpayer funding resulted in $6.70 in benefits, translating to a 19.1% return on investment.
- Social Perspective – For each dollar spent on an OCC education during the analysis year, society will receive a cumulative value of $17.20 in benefits.
You can view the full report here.