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ERIC Number: ED160178
Record Type: Non-Journal
Publication Date: 1978-Jul
Pages: 33
Abstractor: N/A
Reference Count: N/A
The Economic Impact of Mercer County Community College on the Local Community.
Baum, Stanley
The short-range economic impact of Mercer County Community College (MCCC) upon the local community was investigated in terms of business volume, property tax revenues, and jobs for the fiscal year ending June 30, 1978. MCCC generated $6,456,979 in local business volume; approximately two-thirds of these local purchases were directly attributable to the college through the expenditures of the college, its employees, and students. Local expenditures by full-time MCCC faculty and staff alone totaled $2,334,323. The county contributed $3.4 million to the college's $12 million operating budget; of the $5 million spent by the college on goods, 30% went to local vendors. Full-time faculty and staff generated $234,397 in property taxes in the county; the business volume attributed to MCCC produced another $83,771 in business property taxes. In contrast, the value of the college's tax exemption was estimated at about $166,000. In addition, MCCC's impact on local employment was estimated in terms of a total of 886 full-time jobs held during the year; 522 were held by college faculty, staff, and students and the remaining 364 jobs were stimulated by local college-related business volume. The economic models used in the research design are presented, as is a list of the data sources. (MB)
Publication Type: Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: Advanced Institutional Development Program Two-Year College Consortium.
Authoring Institution: Mercer County Community Coll., Trenton, NJ.