TREASURE COAST — According to a new study released Monday, Indian River State College boosts the economy of the four counties it serves by $1.1 billion each year.
The detailed study was conducted by Economic Modeling Specialists International to examine the impact of college and student spending, as well as the benefits of skills and higher productivity of an educated workforce, college officials said in a news release. The report is part of a statewide analysis commissioned by the Florida College System (FCS) Council of Presidents and the FCS Foundation who announced Monday that Florida's 28 state and community colleges add $26.6 billion in income each year to Florida's economy.
IRSC President Edwin Massey said in the release that the study validates the importance of the college to the development of the Research Coast.
"IRSC is a sound investment from multiple perspectives. Students are able to obtain a quality education at affordable cost, leading to increased earnings and a better standard of living for the rest of their working lives," Massey said in the release. "Taxpayers benefit from a stronger economy with reduced crime, welfare and unemployment costs. From a broader standpoint, the College's impact extends throughout the entire region resulting in more job opportunities, higher business revenues, and an eased tax burden."
According to the study, every dollar an IRSC student spends on tuition increases that student's income by $7.
This story will be updated.