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Study shows Aims Community College boosts regional economy by $1 billion

Submitted on: 08-26-2008

Results of an independent socioeconomic impact study revealed that Aims Community College boosts the regional economy by $1 billion annually. “That’s one billion, with a ‘B,’” said Aims President Marsi Liddell. “We’ve always known the benefits Aims provides to the region, but it’s very impressive to have it quantified, to have the tangible numbers.” Conducted by Economic Modeling Specialists Inc., which provides socioeconomic impact studies to community colleges across North America, the study analyzed Aims’ effects on the community in three ways: local purchases including wages, spending of students who come from outside the region, and the increase in the local workforce’s skill base. Analyzing the public funds invested in Aims, the study reveals that state and local taxpayers earn a healthy 7.8 percent return on their investment. Additionally, the study examines how the public benefits from Aims through reduced crime rate, and lower welfare and unemployment. Some key findings from the report: • Students see their annual income increase by $169 per year for every credit completed at Aims. • Students receive an annual 18 percent return on their investment of time and money. • For every $1 students invest in Aims, they receive a cumulative $7.10 in higher future income over the course of their working careers. • About 22 percent of Aims students come from outside the Aims Service Area • The State of Colorado benefits from improved health and reduced welfare, unemployment and crime, saving the public some $2 million per year each year that students are in the workforce. “The results of this study demonstrate that Aims is a sound investment from multiple perspectives,” according to the study’s executive summary. “The college enriches the lives of students and increases their lifetime incomes. It benefits taxpayers by generating increased tax revenues from an enlarged economy and reducing the demand for taxpayer-supported social services. Finally, it contributes to the vitality of both the local and state economies.”



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