DSCC has major economic impact on area
Posted: Tuesday, December 6, 2011 7:02 pm
Dyersburg State Comm-unity College pumped an average of $55.6 million each year into the local economy over the past five years, a recent study by the college shows.
The analysis of the college’s economic impact on its service area revealed the value of business volume and individual income generated amounted to about $278 million in the 2006-2011 period, plus at least 9,962 jobs were created.
The study shows local business volume — the total amount generated locally by businesses from the college’s direct and indirect expenditures — was $138 million for the five-year period. Of that total, more than $115 million came from non-local revenues, such as state appropriations, state/federal contracts and grants, and state/federal student financial aid revenues.
Although Dyersburg State had an average of only 217 full-time-equivalent employees per year during the period, the total employment created by the college’s expenditures was estimated at 9,962 jobs for the five years. Of that number, 8,232 jobs were created by external or new funds.
Using the more conservative of two different calculations, the study estimated that the impact of the college’s expenditures on individual income amounted to about $140 million during 2006-2011, of which more than $119 million came from external or new funds.
Of the college’s $278 million total economic impact, about $235 million ($47 million per year) could be attributed to the infusion of new non-local revenues.
The college’s economic impact study notes that each dollar of local revenue coming into Dyersburg State generated a “return on investment” of about $3.18 in local business volume.
The individual income return on investment was at least $3.22, for a total ROI of at least $6.40 on the local dollar.
“Every year we do this study, and every year I am impressed by the tremendous impact Dyersburg State has on our area,” DSCC President Karen Bowyer said.
“Supporting and improving the economic health of our region is a great responsibility for DSCC,” she said.
The economic impact study demonstrates that Dyersburg State Community College continues to be a major contributor to the economic base of northwest Tennessee, according to Dr. Bowyer.