NoCo Public Colleges and Universities Boosted Local Income by Almost $4 Billion

Northern Colorado is raking in the dough thanks to local public colleges and universities.

Aims Community College, Colorado State University, Front Range Community College, and the University of Northern Colorado collectively added $3.9 billion in income to the economies of Larimer and Weld Counties.

According to a press release from CSU, the four institutions also supported one out of every eight jobs in the area during the fiscal year of 2017 to 2018.

A study from Emsi, a labor market analytics firm, determined the economic impact by looking at the four institution's academic and financial reports, industry and employment data, and other published materials.

The study found that earnings from day-to-day operations, research, start-up companies, student spending, and alumni contributions all factored in to the whopping income boost.

An investment analysis also revealed the average rate of return for on investment for students is at 12.3%, and at 14.1% for taxpayers.

"Public colleges and universities offer an incredible return on investment, not just for the students who receive a life-changing education, but for the communities that are home to the institutions," said CSU President Joyce McConnell. "This report reinforces the critical role higher education plays as a key driver of our regional economy, and the ripple effect institutions have in making our communities desirable places to live, work, and learn."

The study also predicted that Colorado's economy will expand by $12.4 billion throughout students' working lives, as long as students continue to enter the state's workforce.

As a CSU alum, I feel like this is the part where I chant...'I'm proud to be a CSU Ram.'