Economic Impact
Executive Summary
This report assesses the impact of Cowley College on the regional economy and the benefits generated by the college for students, taxpayers, and society. The results of this study show that Cowley College creates a positive net impact on the regional economy and generates a positive return on investment for students, taxpayers, and society.
Economic Impact Analysis
Investment analysis
A Comparison of the costs and benefits to determine the return on investment.
- STUDENT PERSPECTIVE
- Cowley College’s FY 2016-17 students paid a present value of $8.3 million to cover the cost of tuition, fees, supplies, and interest on student loans. They also forwent $17.9 million in money that they would have earned had they been working instead of attending college.
- In return for their investment, students will receive $117.7 million in increased earnings over their working lives. This translates to a return of $4.50 in higher future earnings for every dollar students invest in their education. Students’
average annual rate of return is 17.8%.
TAXPAYER PERSPECTIVE - Taxpayers provided Cowley College with $13.5 million of funding in FY 2016-17. In return, they will benefit from added tax revenue, stemming from students’ higher lifetime earnings and increased business output, amount- ing to $45.8 million. A reduced demand for government-funded services in Kansas will add another $2.1 million in benefits to taxpayers.
- For every dollar of public money invested in Cowley College, taxpayers will receive
$3.60 in return, over the course of students’ working lives. The average annual rate of
return for taxpayers is 8.7%.
SOCIAL PERSPECTIVE - In FY 2016-17, Kansas invested $51.1 million to fully support Cowley College. In turn, the Kansas economy will grow by $555.4 million, over the course of students’ working lives. Society will also benefit from $5.9 million of public and private sector savings.
- For every dollar invested in Cowley College educations in FY 2016-17, people in Kansas will receive $11.00 in return, for as long as Cowley College’s FY 2016-17 students remain active in the state workforce.
TOP INDUSTRIES IMPACTED BY COWLEY COLLEGE