CC adds $45 million to economy

Clarendon College added an estimated $44.5 million to the economy of Donley County and seven neighboring counties that make up the CC service area in fiscal year 2013, according to a new study.
Those figures were presented by CC President Robert Riza to the Clarendon Economic Development Corporation Board at its regular meeting Monday evening.
The study conducted by Economic Modeling Specialists International (EMSI) was paid for by the college and the CEDC and looked at several factors including the college’s payroll, purchasing, student spending, and alumni earnings as well as the investment of the taxpayers. The CC service area includes Donley, Gray, Childress, Hall, Collingsworth, Briscoe, Wheeler, and Motley counties.
The 78-page reports finds that CC had $6.5 million in direct spending during the study period, which included $5.6 million in payroll for 121 full-time and part-time employees. Much of that figure was spent in the service area to purchase groceries, clothing, and other household goods and services.
EMSI calculated that college students spent more than $472,000 in the service area. Most of that student spending would have been in Clarendon and Pampa.
Clarendon College alumni had an economic impact of $37.5 million.
“These numbers are conservative,” Riza told the CEDC. “We know Donley County drives the college, and a lot of our students stay here.”
Twenty-three percent of CC students originate from outside the region with some of those relocating to the service area. Those students likely would not have come to the region if not for the college, the study says.
In fiscal year 2013, state and local taxpayers contributed $3.2 million to Clarendon College, of that $430,621.02 came from ad valorem taxes levied in Donley County.  Every tax dollar invested in CC yields $6.80 in benefits to society, for an average annual return on investment of 17.6 percent.
EMSI says a student who invests $1 in education at Clarendon College will see $5.80 in higher future income for a return of 20.3 percent.
The study further found that Texas receives $312.4 million in added state income over the course of students’ working lives and realizes $4.6 million in social savings from educated students due to “reduced crime, lower unemployment, and increased health and well-being.”
The CC operating spending is the equivalent of 140 jobs for the area, the impact of student spending is the equivalent of 17 jobs, and the alumni impact is the equivalent of 893 jobs.
Overall CC and its students and alumni support the equivalent of 1,050 jobs.