Grand Rapids Community College announces its $1 billion impact on Michigan
Grand Rapids Community College commissioned a study from Lightcast, which found that the school’s total economic impact in Michigan from 2020 to 2021 was $1 billion.
In a study commissioned by Grand Rapids Community College called “The Economic Value of the Grand Rapids Community College,” it was found that the school had a $1 billion impact on the state in 2020 and 2021.
This huge impact on the local economy is a point of pride for the school, with the school’s president, Charles Lepper, sharing in an article on Grand Rapids Community College’s website, “GRCC creates value from multiple perspectives. We generate more in tax revenue than we receive which is significant. But beyond that, GRCC plays a key role in helping students increase their employability and achieve their individual potential. The college draws students to the region, generating new dollars and opportunities. And GRCC provides students with the education, training and skills they need to have fulfilling and prosperous careers.”
The school’s billion-dollar impact, as highlighted in the study, included operations costs upward of $110 million, construction spending of around $7 million, student spending of $31 million, and alumni impact of more than $890 million.
The school also plays into the region’s economy by attracting students who then spend money in the area, and supplies recent, well-trained graduates to area businesses and companies.
Lepper also shared that “People in Michigan invested a present value total of $192.2 million in GRCC in fiscal year 2020-21. That means for every dollar invested in GRCC, people in Michigan will receive a cumulative value of $14.80 in benefits.”
The social benefits were vast for Kent and Ottawa Counties, as well. By improving the lives of its students, the local economy will prosper through not needing to utilize as many government programs or social services for those students.
Students who received an associate degree from Grand Rapids Community College in 2020-2021 would earn, on average, more than $9,000 above a high school graduate, demonstrating the improved student lifestyle mentioned in the study.
GRCC attracted 18% of its student body from outside the state in 2020-2021, which means additional talent was available for the Michigan economy and workforce thanks to the school.
All in all, Lepper notes that this study proves that Grand Rapids Community College provides a positive impact on the state and its students.
For more information about Grand Rapids Community College, visit the school’s website.