A study of Asnuntuck Community College’s impact says the two-year Enfield school generates over $207.5 million in increased economic activity in its local area. The report also said there’s a strong return on investment in terms of taxpayer dollars.
Of the $207.5 million generated overall by the college, alumni created the greatest impact – by generating $187.1 million in added income in the region. The study indicated that for every dollar that individual students invest in ACC, they receive a cumulative return of $3.50 in higher future wages.
In examining taxpayer investment, the study, commissioned by Asnuntuck, found that for every dollar invested in ACC by taxpayers, $2.40 is returned in benefits. The report said benefits consist primarily of the taxes that state and local governments will collect from the added income created in the state.
ACC’s study was conducted by Economic Modeling Specialists International to measure the economic benefits generated by the college. The study measured the overall economic impact and the return on investment for students and taxpayers in Hartford and Tolland counties in Connecticut and Hampden County in Massachusetts during the 2013-14 fiscal year. The study measured the economic impact by considering a variety of factors, including spending by students who relocated to the area to attend ACC, college employees, alumni who remain in the area after graduation, and college construction projects.
