MCC Program Based Economic Impact Analysis: Feb 2018


The Entry Level Health Care Support program is a hypothetical certificate program and the following analysis assumes the program had been in existence the past 10 years. CAREER PATHWAYS The Entry Level Health Care Support program can lead students into a number of occupations, which may include: Personal Care Aides and Nursing Assistants. TABLE 2.23: Aggregated Program to Occupation Mapping Measures Number of Occupations 4 Using the average number of annual openings for these occupations (2,064) and subtracting the FY 2015-16 institutional completers in the county that may fill these openings (12), we arrive at a gap of 2,052 unfilled openings. There are 1,301 unique job postings for these occupations at the associate degree or below in Monroe County. The top three posting companies are Rochester General Health System, Brookdale Senior Living, and The ARC of Montgomery County. PROGRAM ALUMNI IMPACT In order to calculate an impact, Emsi worked with MCC to estimate the number of students that will enter and finish the program if offered by MCC. If the program had been in existence the past 10 years, former students of MCC’s Entry Level Health Care Support program would have added $451.5 thousand in income to the Monroe County economy in FY 2015-16. This figure represents the increased wages collected by former students active today in the county workforce as a direct result of their education, the increased output of busi- nesses that employ these students, and the multiplier effects that occur. Projected Avg. Annual Job Openings (2016-2026) 2,064 Projected Avg. Job Growth (2016-2026) +18.8% $12.18 Median Hourly Wage (2016)

STUDENT RETURN ON INVESTMENT To earn a degree in the program, students experience costs in the form of tuition and fees, books and supplies, and the opportunity cost of attending school instead of working. In return for this investment, students can earn higher wages. If offered, for every dollar students invest in their education in the program, they will receive $1.60 back over the course of their working lives. This investment can also be seen in terms of a rate of return of 7.9%. FIGURE 2.22: Lifetime Earnings of an Entry Level Health Care Support Program Completer Compared to a High School Graduate $0 Average Annual Earnings High School Graduate Program Completer $40,000 $30,000 $20,000 $10,000 TABLE 2.24: Metrics Per Student and Total Impact Lifetime Earnings Increase per Student $14.4 thousand Annual Economic Impact per Student* $752.5 Total Alumni Impact in FY 2015-16 $451.5 thousand * Due to data limitations, a duplicated student headcount was used to calcu- late the economic impact per student, generating a very conservative result.



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