Four central Illinois community colleges generate an estimated $799.6 million in annual economic impact and support 10,464 jobs across a 20-county region, according to a new study.
The analysis, conducted by Lightcast and commissioned by the Illinois Community College Board, examined the impact of Carl Sandburg College, Spoon River College, Illinois Central College and Heartland Community College.
Former students working in the regional economy account for the largest share of the impact, contributing $645.6 million through higher earnings and local spending. College operations and capital investments add another $130 million, while student spending on housing, food and transportation contributes $22.9 million.
The study found the four colleges support one out of every 47 jobs in the region through payroll, purchasing and construction activity.
Students who complete credentials at the colleges see an average annual return of 14.6% on their educational investment compared with workers who hold only a high school diploma, after accounting for tuition costs and time out of the workforce, according to the report.
Sandburg College President Seamus Reilly said the findings reflect the role of community colleges in workforce development and local economies.
“Our students are earning more and reinvesting by largely staying here in the communities we serve,” Reilly said.
Spoon River College President Curt Oldfield said the study shows long-term earnings gains for graduates.
“Those higher earnings add up over a lifetime,” Oldfield said.
The report also cites a statewide impact of $27.2 billion annually from Illinois community colleges, supporting more than 324,000 jobs.
The study covers a 20-county area in west-central Illinois, including Knox, Peoria, McLean and surrounding counties.
