The Coeur d’Alene Press published an article today on how EMSI’s recent Economic Impact Study (EIS) revealed the economic contribution of North Idaho College to the state’s five northern counties. The study, which was requested by NIC’s administration, will be used to illustrate NIC’s value to community members, legislators, and policymakers.
The EIS showed (among many other cool facts) that the community college’s total impact on North Idaho is $164.6 million, which is 2.7% of the total regional economy. For every dollar a student spends on education at NIC, that student gets back $3.60. This reflects a 16.1% annual rate of return on investment — “a killer deal,” according to EMSI research economist Tim Nadreau.
EMSI’s Economic Impact Study estimates the impact of colleges and universities in terms of job and income formation, students’ high earnings, returns to taxpayers, and a broad collection of social benefits and avoided costs. Put simply, the EIS calculates your college’s value as an economic neighbor.