Heartland Community College, Illinois Central College, Carl Sandburg College, and Spoon River College together generate $799.6 million in economic impact and support 10,464 jobs across Central Illinois, according to a new study.
The four colleges support one out of every 47 jobs in the West Central Illinois Community College Region, the study found.
The study was conducted by Lightcast, in partnership with the Illinois Community College Board, Illinois Council of Community College Presidents, the Illinois Community College Trustees Association, and the Illinois Community College System Foundation.
"Illinois community colleges serve as economic drivers for our communities, generating value not only with our operations but furthering the investment in the students we serve," Heartland Community College President Keith Cornille said in a statement.
"Our institutions bring jobs and growth to the community, but most importantly, our students generate higher earnings, which in turn helps our neighborhoods thrive."
The largest share of that annual impact, $645.6 million, comes from former students now working in the regional economy, earning more than they would without their credentials, and spending those wages locally.
Key findings from the study include, for every $1 invested:
- Students receive $4.30 in lifetime earnings.
- Taxpayers gain $1.30 in added tax revenue and public sector savings.
- Society sees a return of $6.70.
