Monroe Community College Program Based Economic Impact Analysis, January 2015

INFORMATION TECHNOLOGY

TABLE C1: 2014 Economic Impact of Information Tech- nology Program Field Value ($K) Total Economic Impact in 2014 $7,180  Initial Effect $4,125  Direct Effect $740  Indirect Effect $161  Induced Effect $2,154 TABLE C2: Metrics per Worker for MCC’s Information Technology Program Field Value Number of Completers in Workforce in 2014 57 Annual Economic Impact Per Completer $126,700 Estimated Lifetime Earnings Per Completer $979,400

In 2014, completers of MCC’s Information Technol- ogy program generated an estimated $7.2 million in added income to the regional economy. This figure represents the increased wages collected by former students as a direct result of their education, the increased output of businesses that employ these students, and the multiplier effects that occur as both parties spend money at other businesses. As of 2014, there are 57 MCC completers in the workforce who achieved a postsecondary certificate in this field. Whether employed in their field or in another field, these students generate an annual economic impact of $126,700 per person. An average MCC completer in this program will collect a present value of $979,400 in future earnings as a result of this education.

FIGURE C1: Lifetime Earnings Curve of Information Technology Program Completers compared to Control Group

FIGURE C2: MCC Information Technology Completers 2003-2014

Professional Certificate

Earnings for CIP 11.0103

Earnings for Control Group

30

$80 $60 $70 $50 $40 $30 $20 $10 $0

25

20

15

10

5

0

67

Average Annual Earnings ($K)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

20

30

40

50

60

70

Age

9

P ROGRAM BA S ED ECONOM I C I MP AC T ANA L Y S I S | J ANUAR Y 2 0 1 5