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RVCC: A Sound Investment for Taxpayers

RVCC Generates a Return on Public Investment
  State and county governments allocated about $23.5 million in support of RVCC in FY 2010-11 (county operating aid $13.3 million; state aid $5.6 million; state scholarships $4.6 million).
     
  For every dollar appropriated by state and county governments to RVCC, taxpayers will see a return with a cumulative added value of $4.30 in the form of higher tax revenues and avoided social costs.
     
  State and county governments will receive a rate of return of 12.1% on their investments in RVCC.
     
  This return subsidizes other state and local activities.





RVCC Leverages Taxpayer Dollars
  An estimated 90% of RVCC students remain in New Jersey and contribute to economic growth. Students who enter the workforce expand the tax base by generating higher earnings and reducing social costs.
     
  Students who enter the workforce expand the tax base by generating higher earnings and reducing social costs.
     
  Higher student earnings and associated increases in property income generate about $8 million in added tax revenue each year.
   
  State and local governments will save approximately $1.8 million in avoided social costs each year, including savings associated with improved health, lower costs of law enforcement, and fewer welfare claimants.




Summary of findings from the 2012 study the Economic Contribution of Raritan Valley Community College. The study was conducted by Economic Modeling Specialists Inc., a national leader in conducting economic impact studies for community colleges and other institutions of higher learning.

 


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