In this updated and expanded version of our previous site selection whitepaper, we talk about the need for labor market analysis for today’s businesses, challenges in using various public and proprietary data sources, and EMSI’s solution to facilitate instant access to detailed data.

Labor Market Analysis for Site Selection (Expanded) - PDF

This study, “Economic Contribution of America’s Community and Technical Colleges” (PDF link), was authored by CCbenefits (now EMSI) in 2004, and showcases the socioeconomic impact model (SEIM) framework used in EMSI’s college studies.

The analysis is based on a sample of 262 colleges in 14 states, representing roughly one-third of the current total enrollment in community and technical colleges in the country. The findings from the sample were used to generate results by inference for the some 1,200 colleges in the United States. Two major analyses are conducted: 1) investment analyses from the perspectives of the students and the taxpayers, and 2) economic growth analysis to determine the relative contribution to GDP by the community and technical colleges.

Some of the findings include:

• The average associate’s degree holder will earn $9,000 more annually ($325,000 lifetime) because of that degree.
• Associate’s-level education confers a number of benefits to students as well as the general public. The analysis translates the economic growth effect of community and technical college education into increased state and local government revenues (via increased tax receipts). Added to these are an assortment of social savings, e.g., avoided costs stemming from reductions in incarceration, welfare, health care support, and others.
• Taxpayers, who bear about 58% of community and technical college costs, receive a 16% return on their investment in the colleges—well above the 4% opportunity cost of funds.
• The bottom line: colleges return more to taxpayers than they cost.

The US Department of Labor / Employment & Training Administration has announced the availability of approximately 20 grants of $100,000 to $500,000 to support technology-based learning  projects (PDF link). Successful grantees will need to target high-demand occupations (requiring labor market information and analysis) and demonstrate the existence of a regional partnership that brings together education providers, the workforce system, and employers.

As always, users of EMSI’s Strategic Advantage can contact us for free customer support regarding the use of labor market information to discover high-growth industries and occupations in their area.

In 2002, lawmakers on the Wisconsin Assembly’s budget committee began their biennial session to set the state’s spending priorities. In the wake of the dot-com bust and the 9/11 attacks, the national economy was starting to enter a recession and committee members were concerned about reducing state spending. Early in their deliberations, the committee voted to cut state funding for the state’s technical colleges by $14 million, or 10 percent.

To read on and see what role EMSI’s SEIM study played in this situation, open the full case study (PDF): Wisconsin SEIM Case Study

A new report from the National Commission on Adult Literacy, produced in conjunction with the Charles Stewart Mott foundation, finds that the U.S. is actually less educated than it was a generation ago, and that this extremely poor adult literacy (and, presumably, numeracy) will result in a decline in economic competitiveness. The report calls for a huge expansion of adult literacy and workforce training programs to serve the tens of millions of adults who are unprepared to contribute to the American economy.

Link to press release, full report.

Bruce Corrie, Dean of the College of Business at Concordia University, has released a report that attempts to quantify the “ethnic capital” of Liberian immigrants in the US as a whole and the state of Minnesota in particular.

Though a small community, Liberians in the United States and Minnesota have a significant impact on the national and local economy. This report will document the multidimensional economic contributions of Liberians in Minnesota and the nation. The local analysis in Minnesota can help estimate the national economic contributions of this community to the nation.

- Liberians in the United States have a buying power of over a billion dollars. This is equivalent to two times the GDP of Liberia in 2005.

- In Minnesota Liberian buying power is an estimated $157 million dollars which is almost as large as the 2007-08 Liberian National Budget of $199 million dollars.

Read the report here.

Economic Modeling Specialists Inc. (EMSI) will provide crucial data, modeling, and analysis to an economic impact study of New York City’s Watershed Land Acquisition Program. The study was initiated by the Delaware County Department of Economic Development, which fears that additional acquisitions made by the program will hamper development in the region.

Read on for the full press release.

(more…)

A socioeconomic impact study by EMSI has concluded that Schenectady County Community College benefits its region to the tune of $330 million, the majority of which is due to increased student earnings and productivity resulting from their education. This factor, which plays a key role in EMSI’s methodology, is virtually ignored by most college impact studies.

“This report details the significant contributions that SCCC has made to the vitality of our local economy and to the lives of our students. It is important that our county and state taxpayers, as well as our students, know that the investment they have made in SCCC for nearly 40 years, has resulted in long-term positive financial effects for them. The report was created by an independent national firm utilizing many sources of data relating to the College and its economic impact on the local area. We want to share this report with members of our community to let them actually see the return on their investment and that our students, faculty and staff continue to be essential contributors to the economic stability of the county,” said Gabe Basil, SCCC President.

Read the full story here.