A new economic impact study from labor-data analyst company Lightcast shows Lane Community College (LCC) is a major contributor to the region's economy, generating $816.2 million annually, which is equivalent to 9,787 jobs supported.
LCC continues to help people build the economic stability that improves their lives and their community. In practical terms: for every $1 invested in LCC, students gain $4 in higher lifetime earnings, Lane taxpayers gain $1.10 in added tax revenue and public sector savings, and society sees $5.30 in added income and social savings.
Speaking on the findings, LCC President Stephanie Bulger said, "LCC's impact goes far beyond our classrooms. When our students succeed, that success ripples out to their families, their employers, and the broader community. This study puts real numbers to something we see every day: investing in LCC is investing in the future of our entire region."
The numbers reinforce the fact that college education leads to higher wages. A graduate with an associate degree from LCC can earn an average of $8,600 a year more than someone with a high school diploma. Because of community college education, Lane County enjoys added tax revenue from higher-earning graduates plus reduced demand for social services. Money is saved from reduced crime, lower welfare and unemployment costs, and improved public health.
With tuition roughly half the cost of an in-state university, LCC makes higher education accessible and boosts earnings for graduates. And now with LCC’s two new four-year, Applied Bachelor’s degrees in Business and Nursing, LCC graduates will expand their earning potential in the coming years.
Key takeaways from the report include:
- Jobs: In the Lane Service District, 1 out of every 23 jobs is supported by LCC and its students.
- Alumni: The impact of increased earnings of LCC alumni and the businesses they work for added $712.8 million in added income, which is an economic boost equivalent to 8,249 jobs or hosting the Super Bowl twice.
- Operations Spending: The impact of annual payroll and other spending is $58.4 million, enough to support 860 jobs or buy 1,236 new cars.
- Student Spending: The impact of the daily spending of Lane students attracted to or retained in the region is $29 million, enough to support 506 jobs or buy 1,979 families a year’s worth of groceries.
- Construction Spending: The impact of expenditures for ongoing construction projects is $16 million, equivalent to 171 jobs.
The 113-page study leverages a range of data sources, encompassing the college's academic and financial reports from 2023-24, insights from the Bureau of Labor Statistics and Census Bureau, and a range of research linking education to societal behavior. The following documents from Lightcast provide more insight on their findings:
Lane Community College educates over 17,000 students annually at six locations across Lane County and online. Students and alumni from all 50 states and 79 countries create more than an $816.2 million dollar impact on the local economy, helping to support more than 9,787 local jobs. Lane provides affordable, quality, professional technical and college transfer programs; business development and employee training; academic, language and life skills development; and lifelong personal development and enrichment courses.