MUSCLE SHOALS – Northwest Shoals Community College added $179.1 million to the local economy in fiscal year 2023-24, according to an independent report released Wednesday. The impact supported 3,045 jobs.
Students and alumni of colleges within the Alabama Community College System added $8.1 billion to the state’s economy, an amount equal to about 3 percent of Alabama’s total gross state product, according to the Economic Impact Study for Fiscal Year 2023-2024 by Lightcast, a labor market analytics firm.
NWSCC President Jeff Goodwin said the report allows the college to quantify the impact it has on the community each year.
“Our community college system knows how important it is to capture the impact of how we serve our communities every day,” said Goodwin. “This report puts numbers to the impact we see and hear every day through our countless alumni and student testimonials.”
One of the largest takeaways from the report is regarding NWSCC alumni impact.
“Today, thousands of former NWSCC students are employed in the NWSCC Service Area,.” the report said. “As a result of their education from NWSCC, the students receive higher earnings and increase the productivity of the businesses that employ them.
“In FY 2023-24, NWSCC alumni generated $140.1 million in added income for the regional economy, which is equivalent to supporting 2,194 jobs.”
The impact of the Alabama Community College System, which represents 24 community and technical colleges across Alabama, supported 114,043 jobs in FY 2023-24.
For perspective, the activities of the colleges and their students support 1 out of every 26 jobs in Alabama. One out of every 39 jobs in the NWSCC service area is supported by the activities of NWSCC and its students.
The average NWSCC associate degree graduate earns $7,700 more each year than a resident who does not obtain more than a high school diploma.The expenditures of relocated and retained students in FY 2023-24 added $170.3 million in income to the Alabama economy.
“Our students and graduates are working, earning, and reinvesting in Alabama’s communities,” said ACCS Chancellor Jimmy H. Baker. “Businesses across the state rely on them to keep operations strong. No other entity has a greater reach in education and workforce training, and we are committed to ensuring every student leaves our colleges prepared to contribute to their communities, their industries, and Alabama’s economic growth.”
The full ACCS report can be found at accs.edu/impact/. The NWSCC specific report can be viewed at nwscc.edu/impact.
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