Genesee Community College, located in Batavia, New York, has announced the results of an EMSI Economic Impact Study that showed the institution contributes more than $126 million annually to its service area.
The Western New York college, situated between Rochester and Buffalo, is using the impact study as way to bring together legislators, regional leaders, and other stakeholders to show the value of education GCC provides.
BATAVIA, NY (04/25/2011)(readMedia)– The results of a recently completed study entitled, “The Economic Impact of Genesee Community College” will be presented to the public on Wednesday, April 27, 2011 by Dr. Kjell A. Christophersen of Economic Modeling Specialists Inc. (EMSI), the president of the internationally acclaimed research organization. Sponsored by GCC in cooperation with Genesee County Chamber of Commerce, the Genesee County Economic Development Center, and Genesee Community College Foundation, the public presentation will be held in Conable Technology Building at GCC’s Batavia Campus … A synopsis of the presentation will also be given to the Genesee County Legislature Committee of the Whole at 6:00 p.m. the same evening within the Genesee County Legislative Chamber in Old Courthouse, Batavia.
“The Economic Impact of Genesee Community College” will feature results of EMSI’s recently completed economic impact study which utilizes state-of-the-art, field tested research techniques to report and analyze the investment that both students’ and taxpayers’ have in the College. With great precision, the EMSI model records the College’s economic value in terms of job and income formation, higher earnings captured by the students, the return to taxpayers for their college support, and a broad collection of social benefits and avoided costs through reduced crime, improved health habits, and lower expenditures for welfare and unemployment by GCC graduates and former students.
The economic impact study measured the flow of money through area communities resulting from College spending, faculty and staff spending, and student spending. The annual direct regional spending by the College on goods and services (other than housing) was $22.1 million, while spending by former Genesee students directly attributable to their education totaled $104.1 million annually. Together, these make a total current contribution of $126.2 million annually to the local economy, and comprises 2.5% of the entire GLOW region economy.