The Economic Value of Main Report

Table 3.6: Alumni impact, FY 2022-23

Non-labor income (thousands)

Total income (thousands)

Labor income (thousands)

Sales (thousands)

Jobs supported

Initial effect

$289,734

$151,385

$441,119

$898,226

4,509

Multiplier effect Direct effect

$57,101

$31,976

$89,076

$169,417

923

Indirect effect

$19,479

$10,801

$30,281

$57,011

319

Induced effect

$141,245

$67,135

$208,380

$409,029

2,205

Total multiplier effect

$217,825 $507,559

$109,911 $261,297

$327,737 $768,856

$635,457

3,446 7,955

Total impact (initial + multiplier)

$1,533,683

Source: Lightcast impact model

Table 3.6 shows the multiplier effects of alumni. Multiplier effects occur as alumni generate an increased demand for consumer goods and services through the expenditure of their higher wages. Further, as the industries where alumni are employed increase their output, there is a corresponding increase in the demand for input from the industries in the employers’ supply chain . Together, the incomes generated by the expansions in business input purchases and household spending constitute the multiplier effect of the increased productivity of the college ’ s alumni. The final results are $217.8 million in added labor income and $109.9 million in added non-labor income, for an overall total of $327.7 million in multiplier effects. The grand total of the alumni impact is $768.9 million in total added income, the sum of all initial and multiplier labor and non-labor income effects. This is equivalent to supporting 7,955 jobs.

The economic value of Monroe Community College

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