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Regional Economy $400 Million Stronger Due to A-B Tech

A-B Tech students see a 23 percent rate of return on their educational investment, recovering all costs in six years, according to a socioeconomic impact of education study by Economic Modeling Specialists Inc.

The A-B Tech service area economy annually receives nearly $400 million in income due to past and present efforts of A-B Tech. This figure amounts to roughly 4.4 percent of the area's total annual income, according to a socioeconomic impact of education study by Economic Modeling Specialists Inc. (EMSI) .

The study, covering the 2008 fiscal year, presented an investment analysis from the perspective of students and taxpayers and an economic growth analysis to determine the relative contribution of A-B Tech to regional income.

The report concluded that A-B Tech plays a significant role in the local economy and is a sound investment from multiple perspectives. Students benefit from improved lifestyles and increased earnings. Taxpayers benefit from a larger economy and lower social costs. The community as a whole benefits from increased job and investment opportunities, higher business revenues, greater availability of public funds and an eased tax burden.

Other findings included:

• Students see their annual income increase by $162 per year for every credit completed at A-B Tech.
• A-B Tech students generate about $25.1 million annually in higher earnings due to their education.
• A total of 26,479 credit and non-credit students attended the College during the fiscal year. About 81 percent of the students stay in the region initially after they leave A-B Tech, contributing to the local economy.
• Throughout his/her working career, the average A-B Tech student's discounted lifetime income increases by $5.20 for every $1 invested in college.
• Students see a 23 percent rate of return on their A-B Tech educational investment, recovering all costs (including wages foregone) in six years.
• A-B Tech yields a return on government investment. State and local government allocated about $34 million in support of A-B Tech. For every $1 of this support, taxpayers see a cumulative return of $2.40 over the course of students' working careers in the form of higher tax receipts and avoided social costs.

Complete Socioeconomic Impact of Education Study Results

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