Study shows Daytona State’s local economic impact at nearly $710M
DAYTONA BEACH, Fla. (March 19, 2013) – A new study attributes a powerful impact on
the local economy of nearly $710 million generated by Daytona State College, its students
The study verifies the strength and value of the college’s service to the communities, businesses and individuals in Volusia and Flagler counties and beyond. Economic Modeling Specialists International (EMSI) conducted the study through the Florida College System (FCS).
“With the local economy poised for revival, analysis of our growth impact is critical as we strategize for the future,” said Daytona State College President Carol W. Eaton. “This study validates our significant role as an economic driver, as we prepare the region’s workforce with the latest technology, customer service and management skills.”
To foster synergistic goals and perpetuate a pipeline of educated, well-trained workers, Daytona State partners and builds collaborations with the region’s industries, cities, partner institutions and k-12 education system. From working closely with agencies like the Volusia Manufacturers Association, Chamber of Commerce, local hospitals and school system leaders, the college extends student learning to cooperative education, clinical training and internships. In turn, the college identifies employer needs and prepares graduates for in-demand jobs.
• Taxpayers see a rate of return of 10 percent on their investment in Daytona State and every dollar of state tax money invested in the college today returns $3.20.
• The net added income generated by Daytona State operations ($78.5 million) and the spending of non-local students ($2.8 million) contributes a total of $81.2 million in income to the Daytona State service area economy each year.
• The accumulated credits achieved by former Daytona State students over the past 29 years translate to $628.6 million in added regional income each year due to the higher earnings of students and increased output of businesses. (Overall impact = bullets 2 and 3, $709.8M)
• For every $1 students invest in Daytona State, they receive a cumulative $6.60 in higher future income (discounted) over the course of their working careers.
• Florida benefits from improved health and reduced welfare, unemployment and crime, saving the public some $6.7 million per year.
The study also points out that education increases lifetime income, noting that the average income at the career midpoint of someone with an associate degree in the Daytona State service area is $32,800.
NOTE: Offering more than 100 certificate, associate and bachelor’s degree programs, Daytona State College has responded to the education and workforce training needs of Volusia and Flagler counties for more than 50 years. The college enrolls 31,000 students a year at its seven instructional sites, with graduates serving in critical fields including health care, emergency services, business, education, hospitality, engineering, technology and more.
MORE: Offering more than 100 certificate, associate and bachelor’s degree programs, Daytona State College is the leader in education and workforce training needs of Volusia and Flagler counties and beyond for more than 60 years. The College enrolls nearly 25,000 students a year at its seven instructional sites, with graduates serving in critical fields including healthcare, emergency services/public safety, business, education, hospitality, engineering, technology, digital media, and more.
Daytona State has been recognized as a leader in higher education numerous times, consistently by U.S. News & World Report, which ranks the College among the Top Tier Best Online Bachelor’s Programs. The U.S. Department of Education’s College Affordability and Transparency Center has ranked DSC among the top 50 most affordable public four-year institutions in the country, with less than half the tuition of the national average. Community College Week, a leading publication in higher education, annually continues to feature the college in its list of Top 100 Associate Degree Producers. And U.S. News & World Report has ranked DSC among its Top Online Bachelor’s Programs for Veterans multiple times.
For enrollment information, visit Admissions’ Frequently Asked Questions page.
Chris Thomes, Chris.Thomes@DaytonaState.edu
Marketing & Communications, Marketing@DaytonaState.edu
A Member of the Florida College System
Daytona State College prohibits discrimination and provides equal opportunity in employment and education services to all individuals without regard to age, ancestry, belief, color, disability, ethnicity, genetic information, gender, marital status, national origin, political affiliation, race, religion, sex, sexual orientation or veteran status. For more details, read our policy at DaytonaState.edu/hr/equalaccess.html or contact Lonnie Thompson, Director of Equity and Inclusion, (386) 506-3000 ext. 3973, or Thompsl@DaytonaState.edu. The Office of Equity and Inclusion is located at 1200 W. International Speedway Blvd., Daytona Beach, FL 32114.