ERIC Number: ED459889
Record Type: Non-Journal
Publication Date: 2001-Jul
Reference Count: N/A
Economic Impact of Miami-Dade Community College.
This paper examines Miami-Dade Community College's (M-DCC) (Florida) economic benefits to the community. The Beacon Council lists M-DCC as the eighth largest public sector employer in Miami-Dade County. Economic benefits can occur in many ways, one of which is when vendors who sell to M-DCC provide jobs and income for residents who are not directly employed by the college, but profit from college funding. Findings indicate that the college's total impact on the Miami-Dade economy for 1999-2000 was $772 million, of which $90 million originated in Miami-Dade County. This is a return rate of 862% and indicates that M-DCC has a substantial economic impact on the community, including an impact of $233 million on household earnings. In addition, approximately 11,460 jobs were created in Miami-Dade through the primary and secondary effects of college funding, with 8,436 jobs created solely due to the college's presence. Table 5 shows M-DCC's final economic impact on Miami-Dade County: The $89 million in funds originating inside Miami-Dade County contributed $187 million to the economy, with $69 million of that impacting household incomes, and created 3,024 jobs. Funds originating outside Miami-Dade County contributed $457 million, with $147 million impacting household incomes, and created 7,363 jobs. (NB)
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Miami-Dade Community Coll., FL. Office of Institutional Research.