Business

HIGHER EDUCATION

Study says MDC adds $3 billion to the economy

 

Miami Dade College released a study Monday asserting the community college adds about $3.3 billion to the local economy each year.

The figure comes from a wider study the state’s community-college system to tout its value to the economy at a time of budget cuts and other pressures on the schools’ government funds. The study found that the state-run schools add $27 billion to the economy. Broward College issued a similar study in January that calculated it adds about $1 billion to the economy.

The studies were performed by Economic Modeling Specialists International, an Idaho firm that advertises its track record in using economic-impact studies to increase public funding and grant dollars for colleges and universities.

The MDC study states the economy receives back about $10 for every $1 of tax money that goes to the school, thanks largely to higher income earned by graduates.

“This study reinforces the major role that MDC plays in the community as a great equalizer,’’ MDC’s president, Eduardo Padrón, said in a statement. The school employs about 6,600 people with an annual budget of $880 million.

DOUGLAS HANKS

Read more Business stories from the Miami Herald

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Videos

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category