West Kentucky Community and Technical College plays a significant role in the local economy and is a sound investment from multiple perspectives. Students benefit from improved lifestyles and increased earnings. Taxpayers benefit from a larger economy and lower social costs. Finally, the community as a whole benefits from increased job and investment opportunities, higher business revenues, greater availability of public funds, and an eased tax burden.
According to a recent study by Economic Modeling Specialists Inc. (EMSI), WKCTC contributes more than $126 million each year to its community through a combination of college operations, student spending, and productivity of graduates in the workforce.
The $126 million annual economic impact is broken down into two ways. WKCTC alumni contribute $107.4 million in added regional income each year; this contribution is due to the higher earnings of former WKCTC students and the increased output of businesses. The college's operations generate $19.5 million in net added income, from its payroll as well as operating and capital expenditures. These two factors combine to provide a total of $126.9 million in income to the college's service area economy each year.
The study of West Kentucky Community and Technical College's economic and community impact was performed by Economic Modeling Specialists, Inc. EMSI provides socioeconomic impact and strategic planning tools for community and technical colleges throughout the United States and Canada.