Study: DSCC boosts economy
Posted: Wednesday, February 11, 2009 10:51 am
The Messenger 02.11.09
Tennessee would be a poorer place without Dyersburg State Community College — about $43 million per year poorer.
That’s the conclusion of the most recent study of the college’s five-year economic impact on the surrounding area.
During 2003-08, Dyersburg State contributed more than $217 million to the region’s economy, an average of $43.4 million per year.
Dr. Fred Martin, an educational consultant from Knoxville who specializes in studying the economic impact of educational institutions, conducted the analysis for the college using data collected over the five-year period from 2003-08. He presented his findings in January.
The study focused on three major areas of Dyersburg State’s economic impact:
• Local business volume generated by college expenditures — $108.7 million during 2003-08;
• Local full-time jobs created and sustained by Dyersburg State’s presence — 7,968 during 2003-08, including Dyersburg State’s own 978 full-time jobs counted over the five-year period; and
• Individual income generated by college expenditures — $108.3 million during the five-year study period.
Local money spent at Dyersburg State proved a good investment, too, according to the study.
“It’s significant that every $1 of local revenue flowing into the college generated $3.25 of local business volume and from $3.24 to $3.61 of individual income. That’s a total return on investment of $6.49 to $6.86 on the local dollar,” DSCC president Dr. Karen Bowyer said.
“Also worth noting is what the study doesn’t include. We didn’t factor in the value that results from having a trained and educated workforce available to local employers. That sort of indirect economic impact is important, though. Companies simply wouldn’t locate here if they couldn’t find the skilled workers they need.
“Over the five-year period, DSCC graduated more than 150 nurses who staff our healthcare facilities in the region. There are also a significant number of associate degree graduates in education who transfer to universities before earning their credentials to teach in our schools. The University of Memphis offers elementary education and nursing classes in Dyersburg and Covington to enable students to earn their bachelor of science degree,” she said.
Dr. Bowyer said the study reinforces the point that Dyersburg State continues to be a significant force in the economic vitality of northwest Tennessee.
Dyersburg State Community College, economic impact