Macomb Community College (MCC) and its students add $886.7 million in income to the county’s economy, according to a new economic impact study by Lightcast, a data analytics provider with headquarters in Idaho and Massachusetts.
That figure equates to 1.8 percent of Macomb County’s gross regional product, with 11,784 jobs — one of out every 40 — in the county supported by the activities of the college and its students.
The study was completed using fiscal year 2021-22 academic and financial data, which was the latest year for which complete data was available at the time.
The research consisted of two components: an investment analysis, which is a comparison of costs and benefits to determine return on investment, and an economic impact analysis, which measures how an event or institution affects the local economy.
“This economic impact study highlights the tangible value of Macomb Community College’s mission of transforming lives and communities through the power of education, enrichment and economic development,” says James O. Sawyer IV, president of MCC.
“The college is a key partner in our community’s economic vitality and resiliency. Not only does Macomb prepare residents for workplace opportunity, but the college is also fostering development of highly skilled talent who are vital to sustaining and growing local business and industry.”
The study demonstrated a substantial 22.1 percent return on investment in a Macomb education. For every dollar spent in the form of out-of-expenses as well as forgone time and money, students gain a return of $6.10 in higher future earnings.
Taxpayers receive a return of $2.60 over the working lives of Macomb alumni for every $1 of public money invested in Macomb Community College. This 6.6 percent rate of return compares favorably to other long-term investments in the public sector.
Michigan residents receive $11.70 in return for every dollar invested in MCC. During the analysis year, Michigan invested $222.1 million to support the college. In turn, the Michigan economy will grow by $2.5 billion over the course of students’ working lives. Society will also benefit from $52.7 million of public and private sector savings.
In 2021, MCC had 33,524 students — 9,208 full time and 24,316 part time.
The report, “The Economic Value of Macomb Community College,” is available here.
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