A groundbreaking economic model has found that each taxpayer dollar
invested in
a community college yields $3.00 in benefits back to the taxpayers that
support
it, according to the Association of Community College Trustees (ACCT)
that
released the results of a new study during a national conference in Denver.
Based on studies conducted in 28 states and three Canadian Provinces -
comprising more than 350 community colleges thus far - data
consistently show
that community colleges return more money to the taxpayers than the
colleges
receive in state and local taxpayer-provided funds.
Because community colleges add to regional economic development and
growth, tax
receipts to state and local treasuries are increased. Additionally,
savings
associated with improved lifestyles (reduced crime, improved health
habits,
reduced welfare dependency and unemployment), is a significant return
on
investment -17 percent - to state and local governments.
Conversely, the model illustrates that reducing or eliminating state
and local
public funding for community colleges reduces state and local revenues
while
increasing costs to the public in general that state and local
governments
likely would be forced to increase taxes in order to offset the
declines in
revenue. By implication, reducing public support for community colleges
during
lean economic times only further exacerbates declines in state and
local
revenues.
Developed under contract between the Association of Community College
Trustees
(ACCT), and CCbenefits, Inc. - an economic research firm - the model's
sole
mission is to analyze the economics of community colleges. Built from
several
complex interrelated sub-models, the model has been instrumental in
assisting
community college leaders in their efforts aimed at reducing and in
same cases,
reversing, proposed cuts in state and local funding.
ACCT is a not-for-profit association comprised of the more than 6,500
publicly
elected and appointed governing boards of community, junior, and
technical
colleges in the United States and internationally. For more information
on ACCT
programs and services, visit www.acct.org