ERIC Number: ED340427
Record Type: Non-Journal
Publication Date: 1991-Oct
Reference Count: N/A
Economic Impact of Miami-Dade Community College on Dade County.
In an effort to determine the economic impact of Miami-Dade Community College (M-DCC) on Dade County, a study was conducted of the economic benefits of educational opportunities for human development of Dade County residents; the increase in business due to direct expenditures by the college, employees, and students; and "second round" expenditures consisting of expenditures for goods and services by businesses patronized by M-DCC, its staff, and students. Results of the study included the following: (1) for the 1989-90 fiscal year, M-DCC employed 2,783 full-time salaried professional and administrative staff, the full-time equivalent of 493 part-time instructional staff, and the full-time equivalent of 2,061 part-time hourly staff for a total of 5,337 full-time jobs for local residents; (2) expenditures made by M-DCC within Dade County create approximately 14,815 jobs indirectly, for a total of over 20,000 jobs created by the presence of M-DCC; (3) the education provided to Dade County residents by M-DCC results in an annual increase in income for Dade County residents of over $36.5 million dollars; (4) assuming that 50% of M-DCC expenditures are to county businesses and that 85% of M-DCC employees reside in Dade county, expenditures made by the college include $79.9 million in personnel expenditures, $36.3 in college expenditures, and $95.3 million in non-local student expenditures, for a total of $211.6 million in business volume; (5) business volume stimulated by "second round" spending of direct expenditures is estimated to be at $264.5 million; and (6) the total economic impact of M-DCC for fiscal year 1989-90 is estimated at $512.7 million. Detailed data tables are included. (PAA)
Publication Type: Reports - Research; Numerical/Quantitative Data
Education Level: N/A
Authoring Institution: Miami-Dade Community Coll., FL. Office of Institutional Research.