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IVCC generates $142.7 million in regional economic impact · Illinois Valley - Shaw Local

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  Speaker 1: IVCC generates one hundred and forty two point seven million
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  Speaker 1: dollars in regional economic impact. Written by Shaw Local News Network,
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  Speaker 1: this article is being read by an automated voice brought
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  Speaker 1: to you by Everlett. Illinois Valley Community College added one
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  Speaker 1: hundred and forty two point seven million dollars in income
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  Speaker 1: to the Illinois Valley economy during fiscal year twenty twenty
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  Speaker 1: three to twenty four, so supporting nine hundred and forty
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  Speaker 1: nine regional jobs, roughly one out of every thirty seven
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  Speaker 1: jobs in the area, according to a new economic impact study.
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  Speaker 1: The report, The Economic Value of Illinois Valley Community College,
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  Speaker 1: highlights how the college strengthens local economies through operations, construction,
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  Speaker 1: and student spending while transforming the lives of its graduates
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  Speaker 1: who continue to work, shop, and support their communities for
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  Speaker 1: years after leaving. DCC has had a tremendous impact on
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  Speaker 1: the Illinois Valley and surrounding communities for over one hundred years.
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  Speaker 1: IVCC President Tracy Morris said, this study helps to show
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  Speaker 1: this impact in a very tangible way that helps our community,
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  Speaker 1: businesses and families see how IVCC is a key partner
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  Speaker 1: for our district. The study reflects data from the twenty
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  Speaker 1: twenty three to twenty four academic year, when IVCC served
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  Speaker 1: six thousand, eight hundred and seventy six students. Ivcc's economic
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  Speaker 1: impact breaks down into several categories. Alumni generated one hundred
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  Speaker 1: and twelve point two million dollars in added income for
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  Speaker 1: the regional economy, supporting one thousand, four hundred and twenty jobs.
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  Speaker 1: College operations spending added twenty five point three million dollars
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  Speaker 1: in income, supporting four thirty seven jobs. Student spending contributed
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  Speaker 1: four point four million dollars, supporting eighty four jobs. Construction
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  Speaker 1: spending generated eight hundred fifty two thousand dollars, supporting nine jobs.
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  Speaker 1: The college's one hundred and forty two point seven million
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  Speaker 1: dollars impact equals approximately one point eight percent of the
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  Speaker 1: total gross regional product of the Illinois Valley. Morris emphasized
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  Speaker 1: the visible presence of IVCC graduates throughout the region. The
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  Speaker 1: impact of our alumni can be seen across our district
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  Speaker 1: in our businesses, schools, health care facilities, police stations, and
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  Speaker 1: so much more. Morris said, IVCC graduates are active in
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  Speaker 1: our community agencies and are a vital part of making
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  Speaker 1: our area great. The study also calculated returns on investment.
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  Speaker 1: For every dollar invested in IVCC, students gained three dollars
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  Speaker 1: and eighty cents in higher lifetime earnings, taxpayers gained one
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  Speaker 1: dollars in twenty cents and added tax renewed in public
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  Speaker 1: sector savings, and society gains five dollars and eighty cents
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  Speaker 1: in added income and social savings. The analysis was conducted
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  Speaker 1: by Lightcast in partnership with the Illinois Community College Board,
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  Speaker 1: the Illinois Council of Community College Presidents, the Illa Illinois
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  Speaker 1: Community College Trustees Association, and the Illinois Community College System Foundation. Statewide,
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  Speaker 1: Illinois community Colleges served five hundred thirty eight thousand, five
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  Speaker 1: hundred and forty one students in f Y twenty twenty
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  Speaker 1: three to twenty four, generating a twenty seven point two
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  Speaker 1: billion dollars total economic impact and supporting three hundred twenty
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  Speaker 1: four thousand jobs one out of every twenty six jobs statewide.
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  Speaker 1: For more information about ivcc's Economic Impact Study, visit IVCC
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  Speaker 1: dot e do slash Institutional Effectiveness slash Economic Impact Study
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  Speaker 1: dot php