North Carolina is home to Research Triangle Park, where universities share workspace and ideas with more than 200 companies with expertise in microelectronics, telecommunications, biotechnology, chemicals, pharmaceuticals, and environmental sciences. The Park is one example of how the power of higher education, collaboration, and thought leadership can strengthen a region’s economy—and it doesn’t stop there.
EMSI’s nationwide economic impact study, released this week by the American Association of Community Colleges, shows the net total impact of community colleges on the U.S. economy was $809 billion in 2012.
The focus of this article is to highlight what constitutes a true impact study and what does not. Nobody wants to allocate millions of dollars to a project and then find out after the fact that the report they used to justify the investment was deeply flawed.
A recent impact study found that the Colorado Community College System contributes $3.01 billion to the state each year.