Independent Study Finds Blackhawk Tech Adds $85.9 Million to Regional Economy
October 27, 2020
Blackhawk Technical College (BTC) influences both the lives of its students and the College District's economy to the tune of $85.9 million, according to a recent independent economic modeling study conducted by Emsi. BTC’s economic impact is equivalent to supporting one out of every 71 jobs in Rock and Green counties or 1,564 local jobs.
"The College is not only an important economic driver in our region, but it is also a vital leader in the economic rebound from the impacts of the pandemic," said Blackhawk President Tracy Pierner. "The results of the independent Emsi study further illustrate that developing and supporting the workforce that drives the economy of Rock and Green counties is at the heart of everything we do at BTC."
Emsi’s study examined BTC's impact on its College District, which consists of Rock and Green Counties in southcentral Wisconsin, for the 2018-2019 academic year. The study used a two-pronged approach consisting of an economic impact analysis and an investment analysis, calculating the benefits received by College stakeholders - students, taxpayers, and society.
The study found that BTC creates a significant positive impact on the business community and generates a return on investment to its major stakeholder groups. For every $1 invested into Blackhawk:
- Students gain $4.80 in lifetime earnings; an average annual rate of return of 20.8%,
- Taxpayers gain $1.70 in added tax revenue and public sector savings, an annual rate of return of 4.9%, and
- Wisconsin will receive $7.90 in return for as long as students remain active in the state workforce.
The $85.9 million impact includes:
- $28.2 million added to the local economy due to BTC operational spending
- $8.3 million in expenditures of relocated and retained BTC students
- $49.5 million in alumni impact based on former BTC students employed in the district's workforce
The results of the study demonstrate that BTC is a positive investment for all stakeholder groups. Simultaneously, the taxpayers' investment into BTC returns more to government budgets than it costs and creates a wide range of benefits throughout the state. The College benefits the state and local taxpayers through increased tax receipts and reduced demand for government-supported social services. The study concludes that BTC serves its region by creating a more prosperous economy and generating various savings through students' improved lifestyles.
"BTC transforms the lives of its students through flexible education in a supportive environment. Through a BTC education, students reach their potential and raise their lifetime earnings," added Pierner.
Read the full economic impact study here.
View the Economic Impact Study Fact Sheet
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