The Socioeconomic Benefits Generated by Hawkeye Community College. Executive Summary [and] Volume 1: Main Report [and] Volume 2: Detailed Results

This paper examines the ways in which the State of Iowa and the local economy benefit from the presence of the Hawkeye Community College (HCC) District. Volume 1 is the Main Report, and Volume 2 includes detailed results by entry level of education, gender and ethnicity. The Hawkeye Community College District paid $17.4 million in direct faculty and staff wages and salaries in fiscal year 2001, and accounts for an additional $112 million in wages and salaries off campus. The colleges serve an unduplicated headcount of 26,074 credit and non-credit students. Approximately 85% of students remain in the local community and thereby generate local community benefits. The existence of HCC in Iowa explains $129.3 million of all annual earnings in the HCC District economy, equal to that of 4,602 jobs. The HCC districts pay wages and salaries, which generate additional incomes as they are spent. Likewise, the aggregate college operating and capital expenditures generate still further earnings. The document argues that every dollar of state or local tax money invested in HCC today will see a return of $11 over the next 30 years. Students benefit from an annual return of 24% on their investment of time and money. The study also quantifies the effects of HCC on reduction of crime, welfare, and unemployment. Appended are: Explaining the Results--A Primer; Methodology for Creating Income Gains by Levels of Education; and Adjusting for the Benefits Available Absent State and Local Government Support. (Contains numerous tables and figures and 41 references.) (NB)