Monroe Community College Program Based Economic Impact Analysis, January 2015

ELECTRICAL ENGINEERING TECHNOLOGY PROGRAM

TABLE L1: 2014 Economic Impact of MCC’s Electrical Engineering Technology Program Field Value ($K) Total Economic Impact in 2014 $21,381  Initial Effect $13,382  Direct Effect $1,579  Indirect Effect $317  Induced Effect $6,102 TABLE L2: Metrics per Worker for MCC’s Electrical Engineering Technician Program Field Value Number of Completers in Workforce in 2014 102 Annual Economic Impact Per Completer $209,100 Estimated Lifetime Earnings Per Completer $895,400

In 2014, completers of MCC’s Electrical Engineering Technology program generated an estimated $21.4 million in added income to the regional economy. This figure represents the increased wages collected by former students as a direct result of their educa- tion, 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 102 MCC completers in the workforce who achieved an Associate in Applied Sci- ence degree in this field. Whether employed in their field or in another field, these students generate an annual economic impact of $209,100 per person. In present value terms, an average MCC completer in this program will collect a present value of $895,400 in future earnings as a result of this education.

FIGURE L1: Lifetime Earnings Curve of Electrical Engi- neering Technology Program Completers compared to Control Group

FIGURE L2: MCC Electrical Engineering Technology Completers 2003-2014

Associates

Certificates

Earnings for CIP 15.0303

Earnings for Control Group

10

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

16

12

8

4

0

67

Average Annual Earnings ($K)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

20

30

40

50

60

Age

17

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