Xing Wu
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INDIANAPOLIS (Inside INdiana Business) – A new study conducted by Emsi, a labor market data company, indicates that Ivy Tech Community College has an annual economic impact of $ 3.9 billion statewide. The study, based on 2018-29 data, focuses on job creation, wages and increased business productivity, among other factors.
Ivy Tech Community College’s Economic Impact Report 2020 shows the college supports the equivalent of nearly 57,000 jobs, of which nearly 7,500 are full or part-time faculty and staff. Ivy Tech claims the payroll is around $ 300 million.
Emsi’s study shows that alumni have the greatest impact on the state due to the higher incomes and increased productivity of the companies that employ them. According to Emsi data, in the 2018-19 fiscal year, Ivy Tech alumni generated an additional $ 3.6 billion in revenue for the state’s economy.
“The impact of Ivy Tech goes far beyond the benefits students get from their education,” said Sue Ellspermann, President of Ivy Tech. “When college students enter the workforce, they bring with them valuable skills learned during their studies, which translates into increased productivity for their employers. This has a lasting impact on our state and the dozens of communities where our students live and work. “
The study found that students invested $ 502.8 million in time and money, which will generate a cumulative return of $ 2.2 billion in higher future income over the course of their professional careers.
Click here to view the report.
