Study: Grand Rapids Community College generates $1 billion in economic impact
GRAND RAPIDS — A new study shows a $1 billion impact on the local economy from Grand Rapids Community College, including a significant portion in Ottawa County.
The report — titled “The Economic Value of the Grand Rapids Community College” — by Lightcast broke down the college's value and impact in the region for the 2020-21 fiscal year.
Alumni are the major driver of total impact, accounting for $898.4 million. Other factors include operations spending at $110.2 million, student spending at $31.9 million and construction spending at $7.3 million.
GRCC President Charles Lepper, who’s been on the job for nearly a year, was pleased by the findings and said the results demonstrate GRCC is “a strong investment for students, taxpayers and society.”
“GRCC creates value from multiple perspectives,” he said. “We generate more in tax revenue than we receive, which is significant. But beyond that, GRCC plays a key role in helping students increase their employability and achieve their individual potential.
"The college draws students to the region, generating new dollars and opportunities. And GRCC provides students with the education, training and skills they need to have fulfilling and prosperous careers.”
An executive summary showing the college’s economic impact on Ottawa County reports a total of $726.6 million, some of which overlaps with Kent County, where the report estimates a $943.9 million impact.
The $726.6 million represents 3.9 percent of Ottawa County’s total gross regional product. It also, according to the report, supports just over 10,000 jobs in the county. That equates to one in every 18 jobs in Ottawa.
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Lightcast’s report also found social benefits from GRCC, in the forms of added student income, added business income, added income from college activities and social savings related to health, justice and income assistance, valued at $2.8 billion.
For more information, visit grcc.edu.
— Contact reporter Mitchell Boatman at mboatman@hollandsentinel.com.
This article originally appeared on The Holland Sentinel: Study: Grand Rapids Community College has $1 billion economic impact
