Study shows Riverland contributes $70 million, 871 jobs to regionPublished 8:39pm Saturday, March 30, 2013
Riverland Community College released the results of a study that estimates the economic impact of Riverland on the regional economy to be $70 million and 871 jobs.
“In addition to focusing on the success of our students, Riverland Community College plays a vital role in supporting our state and regional economy,” said Kent Hanson, Riverland’s interim president. “Our operations and the economic activity generated by our faculty, staff, and students touch virtually every corner of our regional economy and support local business and industry.”
The study was conducted by Wilder Research, a nationally recognized source of data used by state and local planners, policy makers and service providers.
Jose Diaz, research scientist for Wilder, said, “This economic impact research provides a statistically valid measurement of the significance of an organization’s activities on the regional economy. Policy makers and community leaders can use the data to inform their decisions. Riverland Community College clearly has a significant impact on the regional economy.”
The study also concluded that Riverland generates approximately $4 million in tax revenues for state and local government each year.
The study further estimated the value of the increase in productivity that the 380 associate degrees and 276 diplomas and certificates awarded by Riverland in 2011 will yield throughout the careers of the graduates. Assuming a 40-year work life, the education received by these graduates will yield additional state income of $27.7 million. “Riverland Community College makes a long-term contribution to the regional economy with every graduating class because the productivity improvements from higher education last for the worker’s entire career,” said Diaz.