This best practice document provides an overview of conducting a socioeconomic impact analysis of community and technical colleges.
Community colleges play a substantial role in the economic development of their service regions, not only through their own daily operations, but also through the added skills that they provide to their students. The benefits of community colleges are many, making them a valuable resource to all education stakeholders – students, taxpayers, as well as businesses. Measuring these benefits in quantitative terms, however, can be a challenge, and, in the vast majority of cases, the advantages of community colleges are often treated anecdotally or even overlooked. Many surveys indicate that citizens are more likely to act in support of community colleges once they are informed of the benefits they generate, which is why it is important for colleges to be able to measure, using hard data, their significant contributions to the community.
Download the full document (PDF): Socioeconomic Impact Analysis: Measuring the Role of Your College in its State and Local Economy.