The Economic Value of Main Report

Taxpayer perspective Taxpayers provided $71.0 million of state and local funding to MCC in FY 2022-23. In return, taxpayers will receive an estimated present value of $166.1 million in added tax revenue stemming from the students’ higher lifetime earnings and the increased output of businesses. Savings to the public sector add another estimated $31.0 million in benefits due to a reduced demand for government-funded social services in New York. Total taxpayer benefits amount to $197.2 million , the present value sum of the added tax revenue and public sector savings. For every tax dollar spent educating students attending MCC, taxpayers will receive an average of $2.80 in return over the course of the students’ working lives. In other words, taxpayers receive an annual rate of return of 7.3% . People in New York invested $201.6 million in MCC in FY 2022-23. This includes the college ’s expenditures, student expenses, and student opportunity costs. In return, the state of New York will receive an estimated present value of $1.9 billion in added state revenue over the course of the students’ working lives. New York will also benefit from an estimated $56.6 million in present value social savings related to reduced crime, lower welfare and unemployment assistance, and increased health and well-being across the state. For every dollar society invests in MCC, an average of $9.50 in benefits will accrue to New York over the course of the students’ careers. For every tax dollar spent educating students attending MCC, taxpayers will receive an average of $2.80 in return over the course of the students’ working lives. Social perspective

The economic value of Monroe Community College

11