Monroe Community College Program Based Economic Impact Analysis, January 2015

AUTOMOTIVE TECHNOLOGY PROGRAM

TABLE M2: Metrics per Worker for MCC’s Automotive Technology Program Field Value Number of Completers in Workforce in 2014 279 Annual Economic Impact Per Completer $63,800 Estimated Lifetime Earnings Per Completer $653,100 TABLE M1: 2014 Economic Impact of MCC’s Automotive Technology Program Field Value ($K) Total Economic Impact in 2014 $17,765  Initial Effect $10,452  Direct Effect $1,400  Indirect Effect $275  Induced Effect $5,638

In 2014, completers of MCC’s Automotive Technol- ogy program generated an estimated $17.8 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 279 MCC completers in the workforce who achieved some credential in this field (either a post- secondary vocational award or an associate’s degree). Whether employed in their field or in another field, these students generate an annual economic impact of $63,800 per person. In present value terms, an average MCC completer in this program will collect a present value of $653,100 in future earnings as a result of this education.

FIGURE M1: Lifetime Earnings Curve of Automotive Technology Completers compared to Control Group

FIGURE M2: MCC Automotive Technology Completers 2003-2014

Earnings for CIP 47.0604

Earnings for Control Group

Associates

Certificates

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

50

40

30

20

10

67

Average Annual Earnings ($K)

0

20

30

40

50

60

70

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Age

18

MONROE COMMUN I T Y COL L EGE | ECONOM I C MODE L I NG S P EC I A L I S T S I NT L .