Monroe Community College: Producing the 21st Century Worker

The Impact. (Large and lasting.) The dollars generated by program completion stands at more than $40 million by the end of the five-year start-up period. Far beyond the dollar value generated by the Finger Lakes Regional Workforce Development Center is its potential to spark an inflow of new and established businesses eager to engage our workforce. Also, according to the Greater Rochester Enterprise, the availability of a highly trained workforce, including technicians and skilled trades, is one of the top two criterion site selectors evaluate for project locations. That means, this project is critical to EBP in securing $20-$100 million projects. Few industrial revitalizations have occurred without a force like the proposed center. Which will be the region’s first coordinated attempt at establishing an educational pipeline to high-demand technical manufacturing jobs. Initially, EBP employers will benefit from an enthusiastic, well-educated talent pool. And, over the longer term, our region will retain jobs that might otherwise have located out of our area. The Finger Lakes Regional Workforce Development Center will provide 222 workers with non- degree training in the first year of operation—with incremental increases over the first five-year cycle totaling 2,303 workers trained (includes degree and non-degree training).

ECONOMIC IMPACT REQUIRES SKILL

Electrical Engineering Technology

Tooling and Machining

Applied Integrated Technology/ Mechatronics

IT Related Occupations

(credit-based cohorts)

TOTAL

Marginal Annual Impact per Completer (compared to full-time high school educated worker)

$209,100

$75,500

$45,600

$126,700

N/A

Year 1 Completions Annual Economic Impact Year 2 Completions Annual Economic Impact Year 3 Completions Annual Economic Impact Year 4 Completions Annual Economic Impact Year 5 Completions Annual Economic Impact

0

30

30

0

60

-

$2,265,000 $1,368,000

-

$3,633,000

15

30

50

0

95

$3,136,500 $4,530,000 $3,648,000

-

$11,314,500

15

30

50

15

110

$6,273,000 $6,795,000 $5,928,000 1,900,500 $20,896,500

15

30

50

15

110

$9,409,500 $9,060,000 $8,208,000 3,801,000 $30,478,500

15

30

50

15

110

$12,546,000 $11,325,000 $10,488,000 5,701,500 $40,060,500

TOTAL CREDIT COMPLETERS OVER 5 YEARS

485

Source: MCC Program Based Economic Impact Analysis, January 2015