Calhoun Community College isn’t making just an educational impact on the state, the state’s largest two-year college is making a major economic impact.
Calhoun made a total annual impact of $733.2 million, which supported over 9,754 jobs across the state, according to an economic impact report from the Alabama Community College System. The report said the state’s two-year colleges add $6.6 billion to Alabama’s economy, supporting one out of every 27 jobs in the state.
“The results of the analysis not only prove the curriculum and training at Calhoun is solid and is what industry leaders are seeking in their potential employees, but it also shows the college’s commitment to assist in maintaining the state’s strong workforce,” said Dr. Jimmy Hodges, Calhoun president.
Conducted by Lightcast, a labor market analyst for colleges and universities, the independent, 102-page report analyzed data using FY 2020-21 academic and financial reports from Alabama’s community and technical colleges, as well as industry and employment data from the Bureau of Labor Statistics and Census Bureau.
Lightcast estimates the Alabama Community College System directly impacts 98,923 jobs in the state, representing about 2.7% of Alabama’s gross state product.
Additionally, taxpayers see a net benefit of $1.1 billion in added tax revenue from students’ higher lifetime earnings and increased output to businesses.
Over the years, students have studied at Calhoun and entered or re-entered the workforce with newly acquired degrees, job training and certifications. As they remain in the North Alabama region, their net impact as employees amounted to $669.9 million in added income for the 2020-21 fiscal year.
“This is great for our students as they earn a higher wage than those who only have a high school diploma,” said Hodges. “Our students see annual earnings of $11,300-plus as a result of investing in their education and advancing their skillsets to become more employable.”
Alabama’s community college alumni in Alabama’s workforce added $5.7 billion in income during the analysis year. A total of 95% of Alabama community college alumni remain in the state to live and work.
“Our legacy centers on helping people develop the skills they need to help build the framework of our state’s economy, and the data this report provides proves we are on a forward path of excellence in that pursuit,” said Jimmy Baker, chancellor of the Alabama Community College System. “We couldn’t be any more proud of the results from this recent study, and hope to continue to receive support from our friends within the community.
“We hope to build stronger bonds and opportunities for our students with our industry partners, and look forward to increasing our enrollment as we help students pursue their educational goals.”
Click here to view the full report.
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