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HCC
FOR IMMEDIATE RELEASE
Nov. 10, 2011
 
Halifax Community College holds news conference, reveals new economic impact study
 
WELDON, N.C. - Halifax Community College (HCC) held a news conference on Tuesday, Nov. 8 at 11 a.m. on its campus in Building 100, Room 108. The news conference focused on a new economic impact study, which was funded by the U.S. Department of Education Predominantly Black Institutions Formula Grant.

The study, conducted by Economic Modeling Specialists, Inc., demonstrates the value the College brings to students and the community. According to the study, the benefits of a robust local economy translate into job and investment opportunities, increased business revenues, greater availability of public funds and an eased tax burden.

Key findings included:
  • The defined economic region generated $1.5 billion in total income in fiscal year (FY) 2009-10. Of this, college operations, student spending and past student productivity effects accounted for $44.1 million or 3 percent of all regional income.
  • HCC skills from current and former students increased earnings in the eastern North Carolina, Roanoke Valley region by $26.8 million directly and by another $3.7 million indirectly in FY 2009-10.
  • State and local government allocated around $10.1 million in support of HCC in FY 2009-10. For every dollar appropriated, HCC’s spending generated $1.06 in income in the service area.
  • Studies demonstrate that education increases lifetime earnings. The average annual earnings of a student with an associate’s degree are $31,700 or 109.9 percent more than someone without a high school diploma or GED, and 35.5 percent more than a student with a high school diploma.
  • The HCC student who leaves with an associate’s degree will earn $232,400 more than someone with a high school diploma or GED.
  • Students enjoy an attractive 13.2 percent rate of return on their HCC educational investment and recover all costs in 9.4 years.
Dr Griffin
HCC President Dr. Ervin V. Griffin Sr. addresses the audience gathered for the economic impact study news conference on Nov. 8.
 
Economic Modeling Specialists, Inc. Research Economist Tim Nadreau
Economic Modeling Specialists, Inc. Research Economist Tim Nadreau, on screen, presents the economic impact study to those at Tuesday’s news conference.
 
 
Halifax Community College’s Mission
Halifax Community College strives to meet the diverse needs of our community by providing high-quality, accessible and affordable education and services for a rapidly changing and globally competitive marketplace.
 
Primary Media Contact: Melanie Temple, Public Information Officer, templem@halifaxcc.edu, 252-538-4319

Secondary Media Contact: Linnie S. Carter, Ph.D., APR, Vice President of Institutional Advancement, Halifax Community College and Executive Director of the Halifax Community College Foundation Inc., carterl@halifaxcc.edu, 252-536-7239