The value of community colleges as local economic drivers

The data is in, and the findings are clear: Community colleges are a wise investment and play a critical role in driving economic growth and prosperity in our local communities.

Montgomery County Community College’s latest Economic Impact Report highlighted that for every $1 invested in our community college, students gain $4.40 in lifetime earnings, an average rate of return of 16.9%; taxpayers gain $2.20 in added tax revenue and public sector savings, an average rate of return of 5.0%; and society gains $8.60 in added income and social savings.

Another study conducted by the American Association of Community Colleges found that one of every 18 jobs in the U.S. is supported by the activities of a former community college student. Considering 61% of community college graduates choose to live and work within 50 miles of the school they attended, these institutions are uniquely positioned to not only develop but also retain talent that is instrumental to growing our local economies.

But how do they do it? Here are three ways:

— Community colleges offer tremendous value to students.Thanks to their affordability, flexibility, accessibility, and holistic support resources, community colleges remain a viable option for any learner. Despite popular belief that community colleges are reserved for young adults, many serve learners at all stages of life through summer camps, dual enrollment or early college high school programs, support for career changers, and immersive learning environments, like Challenger Learning Center at MCCC’s Pottstown campus — the only Challenger Learning Center in Pennsylvania.

— Community colleges provide students with a fast track to high-paying jobs. By training students with the skills required by employers today in their own hometowns, community colleges can better align curriculum with local economic needs to create a workforce capable of advancing local businesses and industries. This mutually beneficial approach allows students to gain access to high-demand careers and enables companies to fill open positions with qualified workers. Community colleges also leverage internship programs, apprenticeships, and workforce development programs as an efficient way to quickly guide students not just to a job — but to upward mobility. They’re designed to offer students employment opportunities in positions that are in high demand and provide family-sustainable wages.

— Community colleges ensure diversity and belonging. Prioritizing diversity in business is correlated with superior performance, which in turn can lead to more prosperous and stronger communities. Thanks to their accessibility and affordability for all groups, community colleges are well-positioned to advance diversity and inclusion in our local workforce. Community colleges are designed to remove obstacles and challenges students may encounter along their academic journey. In doing so, these institutions can support community members from all backgrounds, helping them adopt a growth mindset that can empower their careers. This approach leads to more employment opportunities for our citizens and access to skilled workers for our local businesses.

In my role as college president, I’ve seen firsthand how MCCC inspires, leads, and transforms destinies and future generations. This collaborative approach ultimately drives value for students and provides an ROI to taxpayers. It creates a win-win-win scenario where students receive a lifelong, high-paying career, local businesses get access to a pipeline of talented workers, and our communities thrive in a higher functioning economy.

For these reasons, we must do all we can to expand access to community colleges and provide these institutions with the resources they need to continue building strong communities — here in Montgomery County, in the commonwealth, and across the U.S.