ERIC Number: ED180559
Record Type: Non-Journal
Publication Date: 1980-Jan
Reference Count: N/A
An Estimate of the Economic Impacts of Thomas Nelson Community College.
Butler, Thomas E.
A study was conducted at Thomas Nelson Community College (TNCC) to assess the college's economic impact on its service area in fiscal year 1979. Models, based on linear cash flow formulas, were used to determine impacts on local businesses, governments, and individuals. Students' expenditures and spending for construction were omitted from the study. The study revealed: (1) $2,255,559 were added to the local business economy by college-related spending; (2) $1,207,559 worth of business property existed in support of college-related spending; (3) the credit base of local banks expanded by $1,317,723 because of the accounts of the college, its employees, and college-related businesses; (4) $37,575 of local business volume were unrealized due primarily to the operation of TNCC's bookstore; (5) $6,924,636 in tax receipts and state and federal aid were brought the area by the college; (6) $313,966 were spent by local jurisdictions in providing services to TNCC; (7) $626,913 worth of local government property existed in support of TNCC and its staff; (8) $48,276 in property taxes were lost due to the tax exempt status of TNCC; (9) TNCC provided 361 full-time jobs; and (10) these jobs generated $6,270,889 in personal income. The study report explains the models used in the calculations. (JP)
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Thomas Nelson Community Coll., Hampton, VA.