By Christina Sampson | Casa Grande Dispatch
Benefiting both students and taxpayers, Central Arizona College is a good invest- ment that generates millions of dollars for the area economy, according to a study by Economic Modelling Specialists International.
The college hired the company to conduct a study on the school’s economic impact.
“We asked that question, ‘How does the Pinal County economy and the state of Arizona benefit from the presence of CAC?’” Bill Brown, executive director of institutional research and planning, told the CAC Governing Board Tuesday.
Fiscally speaking, the college is a win-win for both students and the taxpayers who support it, Brown said. The college has a $215 million annual economic impact on the county, college trustees were told.
“CAC students benefit from higher personal income and Pinal County residents benefit from cost savings associated with reduced welfare, unemployment, … and reduced crime,” Brown said.
While it’s generally known that people who earn a college degree enjoy higher lifetime earnings than people whose education stops after high school, the rate of return on a CAC student’s investment — 15.1 percent — still stands out, Brown said.
“Any number greater than 4 percent indicates a positive investment,” Brown said. “So I can venture to say this is a very impressive return for CAC.”
Not only students benefit from the college.
Brown listed a host of “social benefits” to the region.
The state earns an estimated $37.8 million annually in taxable earning and property income associated with CAC, according to the study.
The state saves $2.6 million as a result of a segment of its population attending college.
