Community colleges in Southwest Virginia (SWVA) including Mountain Empire Community College, New River Community College, Southwest Virginia Community College, Virginia Highlands Community College, and Wytheville Community College participated, both collectively and individually, in studies to determine specifically how having community colleges in the southwestern part of the state contribute to the local and regional economic landscape. The results reveal that these community colleges play a vital role in the economic growth as each college in the region serves its respective communities by providing accessible, affordable education and workforce training.
The economic impact study prepared by Lightcast, a company that researches global labor markets, shows a positive correlation between the colleges and their communities’ economies.
The study revealed that community colleges in SWVA contributed to the economy by
· adding $560.4 million in income to the Southwest Virginia economy, a value approximately equal to 5.4 percent of the region’s total gross regional product (GRP),
· supporting 8,424 jobs,
· employing 1,501 full-time and part-time faculty and staff with a payroll totaling $61.6 million, and,
· spending $59.7 million (including construction) on day-to-day expenses related to facilities, supplies, and professional services.
According to the study, “the activities of SWVA colleges and their students support one out of every 14 jobs in Southwest Virginia.” “The findings of this recent study reaffirm the profound impact that community colleges have on our region. These institutions, both collectively and individually, serve as catalysts for economic growth and life transformation. By offering accessible and affordable education, providing essential workforce training, and facilitating job placement, community colleges play a pivotal role in strengthening our local and regional economy,” said AJ Robinson, who is a Southwest Virginia representative on the Virginia Community College System Board of Directors.
The results of the study show that SWVA colleges influence both the lives of their students and the regional economy by enhancing the overall quality of life, making higher education and workforce training accessible and affordable, preparing students to meet the needs of employers, and giving those students the skills they need to secure higher paying jobs.
The Virginia Community College System (VCCS) also recently participated in an economic activity study to analyze the economic impact of community colleges in the Virginia communities that they serve. The study revealed that Virginia’s community colleges had an estimated impact of $11.6 billion on the state’s economy during the 2021-2022 academic year.
Since 2021-2022, enrollment continues to climb throughout the VCCS; therefore, the economic impact from the colleges’ existence is growing and will continue to have a positive impact on the communities in which their students live.
