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ERIC Number: ED368437
Record Type: Non-Journal
Publication Date: 1994-Mar
Pages: 23
Abstractor: N/A
Reference Count: N/A
The Economic Impact of Piedmont Virginia Community College upon Its Service Region. Research Report Number 2-94.
Head, Ronald B.
A study was conducted to determine the economic impact of Piedmont Virginia Community College (PVCC) on its service area for fiscal year 1992-93. Three models of economic impact were used in the study: the "short cut" method (SCM) calculating impact based on data on college, employee, and student expenditures in the service region; the Eastern Association of College and University Business Officers model based on the SCM but adding more refined analyses; and the Virginia Employment Commission's Impact Analysis for the Commonwealth, similar to the above models but not including student expenditure data. Results of the study, based on combinations of data from the three models, included the following: (1) PVCC spending in the region ranged from $0.2 to $0.6 million, employee spending ranged from $1.4 to $1.8 million, while student spending totaled approximately $10.7 million; (2) the direct economic impact of PVCC on the region was calculated at $12.4 to $12.6 million; (3) the total estimated economic impact of PVCC, including student spending, was $24.8 million; (4) PVCC employed 501 people and generated approximately 226 additional jobs within the region, with an additional 63 jobs generated statewide; (5) most of the additional jobs generated by PVCC were in the service (38%) and trade (31%) industries; (6) for every dollar paid by the state, PVCC generated $6.13; and (7) for every dollar spent by localities in support of the college, $1,629 were generated. (MAB)
Publication Type: Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Piedmont Virginia Community Coll., Charlottesville, VA. Office of Institutional Research and Planning.