The Roanoker - July/August 2016 - 26

Roanoke's Higher Education Center and its member institutions
represent some $13.4 million in economic impact.

EDUCATION'S ECONOMIC IMPACT
Growth and expansion of Roanoke's higher

cal year 2012-13. Included in that is $262.9

The induced and indirect impacts add an

education has been-as VTC Medical Col-

million in alumni impact and $31 million in

additional 35.4 jobs. The total impact of the

lege President Cynda Johnson describes it-

operations spending impact.

Center's operations and those of its institu-

"rocketing and rolling" of late. It has been

* The $293.9 million in added income to

scurrying along at such a pace, in fact, that

the economy is approximately equal to 2.2

the academics are having difficulty keeping

percent of the Gross Regional Product.

tional members represents a $13.4 million
impact on regional sales (output).
The spending of students induced through

up with its overall strength of that emphasis.

* For every $1 spent by students on a Vir-

participation at the Center's programs adds

Two relatively recent studies-one on

ginia Western education, they gain $2.70 in

an additional $2.3 million and supports

lifetime income.

roughly 35 service sector jobs. Finally, the

Virginia Western Community College, the
other on the Higher Education Center-give

* For every $1 spent by society on Virginia

survey sought to quantify the increase in per-

a brief glimpse at their economics at a mo-

Western, it gains $7.20 in added state income

sonal earnings attributable to completion of

ment in time, but both have evolved in a

and social savings.

one of the Center's academic programs. The

few short years. These studies do not take

* For every $1 spent by taxpayers on Vir-

spending of these increased earnings among

into account the other institutions, several

ginia Western, they gain $5.70 in added taxes

alumni who remain in the region contributes

of which are interdependent with VWCC and

and public sector savings.

an additional $16 million and over 135 jobs.

the Higher Ed Center.
Still, the economics of education is telling in many ways. Here are brief synopses:

* The added income created by Virginia

The total impact is an annual stimulus

Western and its students supported 6,845

of nearly $32 million. This activity sup-

job equivalents in the region.

ports nearly 310 jobs earning an average of

Virginia Western economic impact study,

In 2010, the Roanoke Higher Education

$35,142 per year, generated from a base of

conducted by Economic Modeling Special-

Center conducted an economic impact study

$9 million. That represents the total budget

ists International:

and concluded:

of the Center and the budgets of its insti-

* Virginia Western created a $293.9 mil-

The Center at the time was responsible for

lion economic impact on the region in fis-

103.1 jobs throughout the regional economy.

26 | JULY/AUGUST 2016

tutional member's operations within the
Center.-DS

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