College’s effect equals 2.4 percent of region’s total gross regional product
PASADENA, Texas – A recent study has found that San Jacinto College had a $1.3 billion impact on the region’s economy in fiscal year 2016-17.
The study, conducted by Economic Modeling Specialists International (EMSI), reported that the impacts created during the 2016-17 fiscal year are comprised of $143 million in added income from operations spending, $24.4 million from student spending, and another $1.1 billion from alumni. The College’s impact equals 2.4 percent of the regions gross regional product, and a total of 13,044 jobs.
“This study takes into account the investments of our students, our taxpayers, and our communities,” said Dr. Brenda Hellyer, San Jacinto College Chancellor. “It reflects our ongoing efforts and commitment to improve our communities and the Gulf Coast region by providing an educated and skilled workforce, and offering our students a quality education that allows them to pursue a San Jacinto College has $1.3 billion impact on local economy College’s effect equals 2.4 percent of region’s total gross regional product higher education credential or gain and maintain employment in high-demand careers.”
In return for their investment in the College, the present value of the higher future earnings that San Jac’s students will receive over their working careers is $1.6 billion. This amounts to a return of $6.30 in higher future earnings for every dollar that students invest in their education. The study also found that students receive a 19.8 percent annual return on their investment in a San Jacinto College education.
Taxpayers provided $139.2 million of state and local funding to San Jac in fiscal year 2016-17. In return, taxpayers will receive an estimated present value of $586.2 million in added tax revenue stemming from the students’ higher lifetime earnings and the increased output of businesses. Savings to the public add another estimated $34 million in benefits. The average annual return on investment for taxpayers in the San Jacinto College District is 10.8 percent.
For every dollar that society spends on San Jacinto College during the 2016-17 fiscal year, society receives a cumulative value of $21.80 in benefits for as long as the 2016-17 fiscal year San Jacinto College student population remains active in the state workforce.
“The results of this study confirm the value of a certificate or associate degree from San Jacinto College,” said Mrs. Marie Flickinger, Chair of the San Jacinto College Board of Trustees. “For more than 50 years, we have provided an education that is producing a return on investment for our students and the taxpayers in our region. It is critical that we continue to work hard, and invest in our people and our communities, so that we can provide quality training and transfer programs that are producing more graduates and helping to fill the workforce pipeline in the region.”