Economic Impact Study
The Economic Value of College of the Mainland
College of the Mainland creates value from multiple perspectives. The college benefits local businesses by increasing consumer spending in the region and supplying a steady flow of qualified, trained workers into the workforce. It enriches the lives of students by raising their lifetime earnings and helping them achieve their individual potential. It benefits state and local taxpayers through increased tax receipts across the state and a reduced demand for government-supported social services. Finally, it benefits society as a whole in Texas by creating a more prosperous economy and generating a variety of savings through the improved lifestyles of students.
College of the Mainland (COM) creates value in many ways. The college plays a key role in helping students increase their employability and achieve their individual potential. It provides students with the skills they need to have a fulfilling and prosperous career. Further, it supplies an environment for students to meet new people, increase their self-confidence, and promote their overall health and well-being.
This report assesses the impact of College of the Mainland (COM) on the regional economy and the benefits generated by the college for students, taxpayers, and society. The results of this study show that COM creates a positive net impact on the regional economy and generates a positive return on investment for students, taxpayers, and society.
College of the Mainland (COM) creates a significant positive impact on the business community and generates a return on investment to its major stakeholder groups—students, taxpayers, and society. Using a two-pronged approach that involves an economic impact analysis and an investment analysis, this study calculates the benefits to each of these groups. Results of the analysis reflect Fiscal Year (FY) 2015-16.
Impact on Local Business Community
In FY 2015-16, COM’s total impact on the COM Service Area economy was $250.9 million in added income, equal to 2.2% of the region’s GRP. This contribution that the college provides on its own is nearly as large as the entire Real Estate & Rental & Leasing industry in the region.
Return on Investment to Society
Benefits created by COM extend to far more people than just its students. As students and employers enjoy higher earnings and increased output, society as a whole in Texas benefits from an expanded economy and a range of savings associated with the students’ improved quality of life.
Return on Investment to Students
Education has the power to raise students’ earning potential and increase their employability. In return for their investment in education, COM’s FY 2015-16 students will receive higher wages throughout their working lives.
Return on Investment to Taxpayers
Students and society as a whole in Texas enjoy a range of benefits due to their educational investment in COM. A portion of these benefits accrues to state and local taxpayers in the form of higher tax receipts and a reduced demand for government-supported social services.