Blinn makes $128M mark in Central Texas
A study conducted by Economic Modeling Specialists Inc. (EMSI) reveals for the first time the multi-million dollar impact Blinn College and its graduates have on the region and the state. Spending by non local students combined with investments of $44 million by the College amount to $128 million in income to Blinn’s 13 county service district-each and every year.
Marking its 127- yearannivesary in 2010, Blinn saw its fourth consecutive record fall enrollment top 17,600 students, a nearly 6,000-fold increase from its humble beginnings with 3 students in 1883.
Just since 1980, on an annual basis, students from Blinn’s original campus in Brenham and newer campuses in Bryan, Sealy and Schulenburg have pumped an additional income of $284 million into the region.
“Our proven results in academics and education are well established,” said Blinn President/CEO Dr. Daniel J. Holt. “The degrees we offer significantly raise the career earning power of our students, and in turn they have given back to the region some $8.5 billion over thirty years in added income and increased business output. With more degree offerings than ever, and cutting-edge programs and partnerships on the horizon, Blinn’s positive impact on the region has never looked stronger.”
According to the study, every dollar of state and local tax money invested in the college today yields a cumulative of $26.90 in benefits that accrue to all Texas residents, in terms of added taxable income and avoided social costs.
Focusing on Blinn’s benefits to students, the study reveals that for every dollar a student invests in their education, through tuition, fees, books and other costs, they earn a cumulative $5.10 in higher future earnings over the course of their working career. Students enjoy a 13.9 percent rate of return on their educational investments of time and money, far exceeding the average rate of return on most investments.
Degrees offered at Blinn pay for themselves within about a decade. When compared to the income of high school graduates without degrees, Blinn graduates earn more than $9,000 more per year throughout their working life. Over the course of a typical 30-year career, that increase in earnings earning amounts to $270,000.
Data reveals that former students from Blinn save taxpayers more than $6.4 million annually in social savings through reduced welfare, unemployment and crime, when measured against other metrics around Texas. Overall, taxpayers enjoy a rate of return of 6.2 percent on their investment in the College. According to the study, Blinn students expand the state’s economic base through their higher incomes, while the businesses that employ them also become more productive through the students’ added skills. These benefits, together with the associated ripple effects, contribute an estimated $107.5 million in taxable income to the Texas economy each year.