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The group of community colleges, including its Larimer campus in Fort Collins, generates the lion’s share of the $3 billion in total economic impact from community colleges, said Joe Marquez, spokesman for the Colorado Community College System.
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That $3 billion translates to roughly 55,800 jobs.
The findings come from a study released Tuesday analyzing economic activity from the 13 state community colleges. Increased productivity of workers, due to training from community colleges, creates $2.79 billion in added income annually, according to the report.
Net added income generated by the colleges’ operations contributes a total of $222.2 million in income to the state’s economy annually, the report states.
Net income generated by Front Range Community College operations totals $40 million annually. Credits achieved by former students during the past three decades translate to more than $368 million annually due to higher earnings of students and higher output of businesses.
State and local taxpayers spent $16.9 million in fiscal year 2009-2010 to support Front Range Community College.
The study calls the community college a “sound investment from multiple perspectives.”
“The college enriches the lives of students and increases their lifetime incomes,” the report states. “It benefits taxpayers by generating increased tax revenues from an enlarged economy and reducing the demand for taxpayer-supported social services.”
State and local governments provided $107.3 million to the community colleges during the 2009-2010 fiscal year. Taxpayers receive a return of $1.70 for every dollar spent, the report states.