College of DuPage's economic impact goes beyond tuition savings
As the largest community college and second-largest provider of higher education in Illinois, College of DuPage has an impact on the students we serve that most people understand: Over the past 50 years, we have provided high quality, accessible and affordable education to more than 1 million individuals.
However, beyond the dollars and cents of this institution, excellent tuition rates are not the only financial benefit we provide. The economic impact of this institution extends beyond our community to state, regional and even national proportions.
Economic impact. What does that really mean? With eight months of service as COD's president under my belt, I recently had an opportunity to learn more about this aspect of College of DuPage. Every dozen years, a report is issued by the Center for Governmental Studies at Northern Illinois University under an agreement with the Illinois Community College Board. This study is unique because the ICCB, in collaboration with the Illinois Department of Employment Securities and NIU, maximizes student-level data and employment-level data through the Illinois Longitudinal Data System.
In other words, much hard work and intense number-crunching is completed to produce this report to ensure that the data is factual and - from my perspective - amazing.
As one of the largest employers in DuPage County, alongside BP America, Argonne National Lab, United Parcel Service and others, College of DuPage generates millions of dollars in local sales and wages annually. Providing more than 2,600 jobs, College of DuPage in Fiscal Year 2012 had a total economic output of $405 million.
In addition, the college contributed an estimated $221 million to the regional economy through the "multiplier" or ripple effect, which is based on the idea that initial spending begets even greater spending. As an example, students and employees at College of DuPage must purchase books, food, supplies, gas, housing and other resources as part of their experience attending or working at COD.
Just as remarkable is the contribution made by our students to the bottom line at both state and federal levels. In the year following completion of their programs, approximately 81 percent of COD graduates were employed in Illinois. According to this study, students who attended College of DuPage between 2003 and 2012 paid an estimated $396 million in state taxes and $1.3 billion in federal taxes during that time period.
The current Illinois community college system consists of 48 colleges and 39 districts. As the third largest system in the nation, Illinois community colleges serve nearly 1 million individuals each year in credit and noncredit courses.
Some things are measurable, others are not. While this report provides an in-depth look at the economic impact this college provides our community, state, region and nation, I would like to emphasize that - while significant - the economic impact of College of DuPage is just one aspect of our overall contributions. College of DuPage is a vital and often pivotal place for many that generates a significant impact, both fiscally and intrinsically, to our community.
Our focus at College of DuPage is to provide the highest level of accessible, affordable education that results in prosperity and a lifelong quest for learning. There are few things more valuable or powerful than an engaged mind.
As such, it gives me great satisfaction to be a part of an institution that understands the true meaning of value and of giving back. We rely on the generosity of taxpayers and understand the importance of strong fiscal stewardship for our students and residents of this community. It is gratifying to see through studies such as the NIU/ICCB report how the results of our efforts impact the continued growth and significance of our college beyond our district for the benefit of many.
• Ann Rondeau is president of the College of DuPage. Her column appears monthly in Neighbor during the school year.