Red Rocks Community College creates a positive net impact on the regional economy, according to a recent study of Red Rocks and others in the Colorado Community College System.
Results of the study by Economic Modeling Specialists, a leading …
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Results of the study by Economic Modeling Specialists, a leading provider of economic impact studies and labor market data, also indicated that Red Rocks generates a positive return on investment for students, taxpayers, and society.
Red Rocks Community College promotes growth in our service area in a variety of ways. The college is an employer and buyer of goods and services, and the living expenses of the college's students benefit local businesses. In addition, Red Rocks is a primary source of education to area residents and a supplier of trained workers to regional industries.
The study reported that Red Rocks Community College and its students added $257 million in income to the community in 2015-16 in the form of jobs, living expenses, and other purchases.In addition, during the analysis year, former students of Red Rocks generated $198.4 million in added income for the region. This figure represents the higher earnings that students earned during the year, the increased output of the businesses that employed the students, and the multiplier effects that occurred as students and their employers spent money at other businesses. This $198.4 million in added income is equivalent to supporting 3,490 jobs.
“Red Rocks is proud to work hand-in-hand with our local community to support workforce training,” said Michele Haney, president of Red Rocks Community College. “We listen to their needs and create programs that are necessary for a growing workforce and economy.”
Additional highlights from the report include:
Students receive a 12 percent rate of return per $1 invested
For every dollar spent on an Red Rocks Community College education, society receives $9.70 in benefits
Taxpayers receive a 15.7 percent rate of return per every dollar spent in state taxes
Read the full report at www.rrcc.edu/our-value.
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