An Independent Assessment of the Economic Impacts of Indian River State College
Indian River State College (IRSC) has long been a cornerstone of educational and economic development in Florida's Treasure Coast region. This Florida TaxWatch report provides an in-depth analysis of the college's significant contributions to the local and state economy, showcasing how IRSC not only educates but also economically empowers its community.
IRSC offers a diverse range of over 130 certificate and degree programs, recognized nationally for their quality and affordability. Notably, the college's tuition rates are nearly 30% less than the national average for two-year programs, making higher education accessible and reducing student loan debt. The 2019 Aspen Prize for Community College Excellence winner, IRSC continues to excel in graduation rates and labor market outcomes.
The report highlights the economic impacts of IRSC's operations and partnerships. With initiatives like the PROMISE Program, which offers tuition scholarships, IRSC maintains a low student loan default rate and ensures financial accessibility. Strategic partnerships with private businesses and local schools enhance the learning experience and provide real-world training opportunities. These collaborations have not only increased revenue but also facilitated a practical learning environment that aligns with workforce needs.
In economic terms, IRSC's influence is profound. The college and its partnerships generate over 15,000 jobs annually and have a total economic output exceeding $2 billion. Every dollar spent by IRSC yields approximately $6.69 in additional economic output for Florida, underlining the institution's role as a powerhouse of economic stimulation and a model of educational excellence.
This report is essential reading for policymakers, educators, and community leaders interested in the sustainable integration of education and economic development. It serves as a compelling case study of how educational institutions can significantly impact their local economies and the lives of their students.