The study described in this report employed the Caffrey and Isaacs model to assess the economic impact of the Long Beach Community College District on the local community. Following a summary of research findings, the report reviews the Caffrey and Isaacs model and two additional economic impact studies. Next, the report considers the relationship between producing and consuming entities using a circular flow diagram and looks at sources of district funding and faculty/staff residence patterns. Figures are then presented showing the primary impact (i.e., immediate consequences of college expenditures on personal income, retail sales, and employment) and induced impact (i.e., increases stimulated by the primary impact) of the college. Next, the effect of the school on local banks' credit base is assessed. After impact results using the Caffrey and Isaacs model are presented, the indirect impact of a community college education is measured in terms of the increased productivity of students, local personal incomes, retail sales, and employment. Discussions of the impact of the District on other local government units and on the reduction of poverty and unemployment conclude the report. Data tables showing income and sales ratios, estimates of the value of community college education for Long Beach and other urban California areas, and comparisons with data from a statewide impact study of Illinois community colleges are included in the appendices. (HB)