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ERIC Number: ED233754
Record Type: RIE
Publication Date: 1983-Mar
Pages: 27
Abstractor: N/A
Reference Count: 0
A Study of the Economic Impact of the Community Colleges on the State of New Jersey.
New Jersey State Dept. of Higher Education, Trenton. Office of Community Coll. Programs.
Using the research model developed by Caffrey and Isaacs for the American Council on Education, a study was conducted of the economic impact of New Jersey's community colleges to assist the sector in making an economic case for increased revenues. The formula used to determine the colleges' impact on the state involved totalling the in-county expenditures of the colleges, their employees, and their students, and multiplying the total by 2.5 to estimate the indirect impact of each dollar spent. The results of the study, in which 17 community colleges participated, included the following: (1) $54 million was spent by the colleges, $51 million by college employees, and $222 million by students in the state; (2) the total estimated economic impact on the state was an $822 million return on an initial state investment of $52 million in fiscal year 1982; and (3) the community colleges employed 6,205 people full-time and created another 21,000 full-time jobs in the state by virtue of their direct expenditures of over $300 million. The study report includes a rationale for conducting economic impact studies and recommendations for disseminating the study findings to policy makers. Appendices include charts illustrating the concept of economic impact, the operation of the multiplier, and the distribution of direct and indirect impacts of college spending. (HB)
Publication Type: Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: New Jersey State Dept. of Higher Education, Trenton. Office of Community Coll. Programs.
Identifiers: Economic Impact; Economic Impact Studies; New Jersey
Note: Prepared by the Research and Planning Committee of the Council of County Colleges of New Jersey. For a related document, see JC 830 301.