Monroe Community College Program Based Economic Impact Analysis, January 2015

Executive Summary In this study EMSI analyzes the economic impact of twelve of Monroe Community College’s (MCC) aca- demic programs: Office Technology; Computer Infor- mation Systems; Information Technology; Health Information Technology/Medical Records; Construc- tion Technology; Applied Integrated Technology/ Mechatronics; Mechanical Engineering Technology; Precision Machining & Tooling; Optical Systems Technology; Heating, Ventilation, and Air Condition- ing (HVAC); Electrical Engineering Technology; and Automotive Technology. The programs were selected by MCC based on employers’ expressed demand for trained workers in these fields. Following are some of the key findings of this analysis: ◆ ◆ In 2014, completers of MCC’s Office Technology program generated an estimated $1.8 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 254 MCC completers in the workforce who achieved some credential in this field (either a postsecondary vocational award or an associate’s degree). Whether employed in their field or in another field, these students generate an annual economic impact of $7,100 per person. An average MCC completer in this program will collect a present value of $427,100 in future earn- ings as a result of this education.

◆ ◆ In 2014, completers of MCC’s Computer Informa- tion Systems program generated an estimated $15 million in added income to the regional economy. As of 2014, there are 173 MCC completers in the workforce who achieved some credential in this field (either a postsecondary vocational award or an associate’s degree). Whether employed in their field or in another field, these students generate an annual economic impact of $86,900 per person. An average MCC completer in this program will collect a present value of $1,049,500 in future earnings as a result of this education. ◆ ◆ In 2014, completers of MCC’s Information Tech- nology program generated an estimated $7.2 mil- lion in added income to the regional economy. As of 2014, there are 57 MCC completers in the workforce who achieved an Associate in Science degree in this field. Whether employed in their field or in another field, these students generate an annual economic impact of $126,700 per per- son. An average MCC completer in this program will collect a present value of $979,400 in future earnings as a result of this education. ◆ ◆ In 2014, completers of MCC’s Health Informa- tion Technology/Medical Records program gener- ated an estimated $7 million in added income to the regional economy. As of 2014, there are 145 MCC completers 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 generate an annual economic

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