Monroe Community College Program Based Economic Impact Analysis, January 2015

CONSTRUCTION TECHNOLOGY PROGRAM

TABLE E1: 2014 Economic Impact of MCC’s Construc- tion Technology Program Field Value ($K) Total Economic Impact in 2014 $3,096  Initial Effect $1,781  Direct Effect $236  Indirect Effect $49  Induced Effect $1,030 TABLE E2: Metrics per Worker for MCC’s Construction Technology Program Field Value Number of Completers in Workforce in 2014 82 Annual Economic Impact Per Completer $37,600 Estimated Lifetime Earnings Per Completer $552,700

In 2014, completers of MCC’s Construction Technology program generated an estimated $3.1 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 multi- plier effects that occur as both parties spend money at other businesses. As of 2014, there are 82 MCC com- pleters in the workforce who achieved an Associate in Applied Science degree in this field. Whether employed in their field or in another field, these students gener- ate an annual economic impact of $37,600 per person. An average MCC completer in this program will collect a present value of $552,700 in future earnings as a result of this education.

FIGURE E1: Lifetime Earnings Curve of Construction Technology Program Completers compared to Control Group

FIGURE E2: MCC Construction Technology Completers 2003-2014

Associate in Applied Science

Earnings for CIP 15.1001

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

11

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