Kansas Independent College Association today released the results of a study that estimates the impact of Central Christian College of Kansas on the statewide economy to be $22.3 Million and 183 jobs.
Chief Operations Officer, Doug Vanderhoof said, “Our desire is to help propel students and alumni into becoming engaged members of society. This is reflected through the College’s focus on enhancing civic and economic vitality both academically and operationally. This emphasis and the economic activity generated by our faculty, staff, students, and alumni impact the local, state, and the regional economies.”
The study was commissioned by the was conducted by Parker Philips, a nationally recognized consulting firm specializing in economic impact analysis. Nichole Parker, a principal partner at Parker Philips, said, “Economic impact is an objective way to measure the significance of an organization in the regional economy. Central Christian College of Kansas clearly is a major contributor to the regional economy.”
In the analysis, the study considered the direct spending on operations, pay, benefits, and capital projects by Central Christian College of Kansas and the estimated increase in demand for goods and services in industry sectors that supply or support the Central Christian College of Kansas. The study also measured the effect of student spending and the induced effect of increased household income.
According to the study, a key result of this activity is that Central Christian College of Kansas supports and sustains 183 jobs including direct employment by the Central Christian College of Kansas as well as indirect and induced jobs created by supply and equipment vendors, contractors, and laborers for the construction and renovation of facilities, and jobs created in the community at hotels, restaurants, and retail stores in support of the Central’s faculty, staff, students, and visitors.
The study also calculated tax revenues generated by this level of economic activity, including sales, property, personal income, and corporate income taxes. The study concluded that Central Christian College of Kansas generates about $1.3 Million in tax revenues for state and local government.
The study further estimated the value of the increase in productivity that the 800 alumni who continue to live in Kansas will yield throughout the careers of the graduates. Assuming a 40 year work life, the education received by these graduates will yield additional state income of $14.4 Million annually.
President Favara shared this, “Central Christian College of Kansas is pleased to provide this report, illustrating the economic impact of the College locally here in McPherson and across the state. That being said, in keeping with our mission, our prayer is that the real and most significant impact is experienced through the transformed lives and civic aspirations of those associated with the work of the College.”
Statewide, all private, nonprofit colleges and universities, including all 20 members, plus the spending of its faculty, staff, and students, had a total statewide economic impact of $1.1 billion. This activity generated an estimated 8,269 jobs in the state. The economic impact report for Central Christian College of Kansas is available at centralchristian.edu/economic-impact-study.
Original source can be found here
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