The Economic Value of Main Report

Table 3.3: Average student costs and total sales generated by relocated and retained students in the MCC Service Area, FY 2022-23

Room and board

$8,950

Personal expenses

$1,524

Transportation

$1,176

Total expenses per student

$11,650

Number of students retained

1,869

Number of students relocated

316

Gross retained student sales

$21,768,025

Gross relocated student sales

$3,685,012

Total gross off-campus sales

$25,453,037

Wages and salaries paid to student workers*

$86,900

Net off-campus sales

$25,366,136

Source: Student costs and wages provided by MCC. The number of relocated and retained students who lived in the region off campus while attending is derived by Lightcast from the student origin data and in-term residence data provided by MCC.

Estimating the impacts generated by the $25.4 million in student spending follows a procedure similar to that of the operations impact described above. We distribute the $25.4 million in sales to the industry sectors of the MR-SAM model, apply RPCs to reflect in-region spending, and run the net sales figures through the MR SAM model to derive multiplier effects.

Table 3.4 presents the results. The initial effect is purely sales oriented and there is no change in labor or non-labor income. The impact of relocated and retained student spending thus falls entirely under the multiplier effect. The total impact of student spending is $8.8 million in labor income and $8.6 million in non labor income. This sums together to $17.4 million in total added income and is equivalent to supporting 256 jobs. These values represent the direct effects created at the businesses patronized

The total impact of student spending is $17.4 million in total added income and is equivalent to supporting 256 jobs .

by the students, the indirect effects created by the supply chain of those businesses, and the effects of the increased spending of the household sector throughout the regional economy as a result of the direct and indirect effects.

The economic value of Monroe Community College

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