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Economic Impact

From the Exec. Summary of AN ANALYSIS OF THE COLLEGE'S ECONOMIC IMPACT
Roane State Community College Mar 2004


The study revealed that over $136 million in "new", non-local, and state/federal revenues flowed into the area during 1998-2003 as a result of the College's presence. These external revenues represented 75.2 percent of the total college revenues for the period. The College also received a total of over $44.5 million in local revenues during this period, for a grand total of more than $180.8 million in revenues.

The following economic impact resulted from college expenditures of these revenues:

  1. Local business volume generated by college expenditures during 1998-2003 was $170.0 million, with $136.4 million being due to non-local revenues. Annual business volume generated ranged from $29.5 million to $ 37.1 million.

  2. Local full-time jobs created during 1998-2003 as a result of the College's presence totaled 13,083. Of this total, 10,390 jobs were the result of the non-local revenues. Annual full-time jobs generated ranged from 2,302 to 2,828.

  3. Local individual income generated by college expenditures during 1998-2003 totaled $163.5 million using the more conservative Type I multiplier, with $133.0 million being due to non-local revenues. Annual individual income generated ranged from $27.9 million to $36.3 million.

In summary, the combined five-year direct economic impact on the community represents over $333.4 million, or an average of more than $66.6 million per year. Of this amount, $269 million, or over $53.8 million per year, is due to the infusion of "new" external/non-local revenues. This impact would likely not have occurred without the presence of Roane State in the area.

It is significant that for every $1.00 of local revenues coming to Roane State, there was $3.82 of local business volume and from $3,67 to $4.19 of individual income generated, for a total return on investment (ROI) of $7.49 to $8.01 on the local dollar!

This study clearly documents the significant force that Roane State has become in the economic vitality of East Tennessee.

Excerpted from the Executive Summary of AN ANALYSIS OF THE COLLEGE'S ECONOMIC IMPACT, Mar 2004, by Dr. Fred H. Martin, Ed. Consultant; et al.