Economic Impact of Community Colleges on Local Economies |
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| Authors: | James A Phillips |
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| Institution: | Cypress College , Cypress , Calif. , USA |
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| Abstract: | Abstract This report applies the American Council on Education model in determining the institutional spending impact on local economies. Specifically, the economic impact of Cypress Community College on surrounding local economies was ascertained. Economically affected by college operations were business sales volume, property values, commercial bank credit, employment, personal income, and local government expenditures and revenues. Evaluation of this economic impact suggests that community colleges may significantly affect local economies in a positive direction. This model may be applied in similar community college districts to determine economic impacts, and may serve as an initial step in evaluating benefits derived from tax payments to support community college districts. |
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