Wednesday, February 26, 2020 / Categories: Research, Education, Local Government An Independent Assessment of the Impact of Broward College Key Findings At current levels of enrollment, annual federal, state and local tax revenue due to the economic impacts of Broward College is $240,428,739. The majority of undergraduate students in Broward County attend Broward College (57 percent) in 2018-19. Broward College has low tuition rates compared to other institutions in the area and very low levels of total student debt. As expected, wages are higher for Certificate or Associates’ Degree completers than non-completers but wages were also higher for Broward College completers than from comparable institutions. The average annual differential between the earnings of a Broward College graduate and a worker in Florida with only a high school degree is at least $8,288 per year (when measured at median earnings per year by occupation across occupations typically requiring an Associate of Arts versus occupations typically requiring a high school diploma). This annual differential rises to $21,448 for Associate of Science degrees, and $17,756 for Baccalaureate degrees. Weighted for the number of graduates by type of degree, and assuming that Associate of Arts graduates stop with that credential, these increased earnings average $167,182 per degree recipient. Looking strictly at economic activity that stays in the region, there are 13,147 sustainable jobs in the regional economy generating an annual total of $625 million in wages to workers and income to business proprietors that stays in the local economy. About 68 percent of the economic impact of the College (regional Gross Domestic Product) is driven by the skills, credentials, and increased earning capacity of the graduating students. A Broward College education is becoming increasingly valuable over time, relative to a high school diploma. All signs indicate that these trends will continue. It is expected that there will be 70,251 job openings for Associates’ Degree graduates in the Tri-County (Broward, Miami-Dade, and Palm Beach) South Florida region over the next 10 years. The high earnings differential means that, for every $1 that a Broward College graduate spends on their education, they can expect to earn $6.63 in additional personal income (in present money value) over a working career. This ratio peaks at $13.52 for Associate of Science graduates but is $5.22 for Associate of Arts graduates who do not pursue further education. On average, graduates earn a 9.7 percent return on their investment of time and money. Documents to download Broward College Report 2020(.pdf, 893.5 KB) - 1764 download(s) Previous Article Diverting Tourist Development Tax Revenue Next Article Budget Watch - House and Senate Budgets for FY2020-21 Print 10271 Rate this article: No rating