Big bucks are flowing in Tarrant County, and it looks like Tarrant County College (TCC) is the unsung hero behind a multibillion-dollar economic boost. A recent study, as was covered by the City of Arlington, Texas, confirms that this academic institution is contributing a hefty $2.1 billion to the local economy annually, which shakes out to 1.4% of the county's gross regional product (GRP). Jobs? You bet – to the tune of 26,222.
The lowdown on TCC's impact isn't just about the current cash flow. Alumni are a major force here, with $1.7 billion of that added income chalked up to their contributions, while the hustling student body has tossed in another $93 million. The college itself adds a chunky $267 million to the economy, thanks to its day-to-day operations. TCC Chancellor Elva LeBlanc said in an announcement, "The impact of Tarrant County College is considerable. But perhaps the most important impact can’t be measured in dollars and cents, but in how it affects each student." as cited in the City of Arlington, Texas press release.
The college is showing some serious return on investment. Students who earn an associate degree are looking at an annual return rate of 30%, which makes playing the stock market look like kids' play. Meanwhile, taxpayers are getting $1.30 back in tax revenue for every dollar they put into this educational powerhouse. In broader strokes, society's raking in a sweet $11.00 in added income and social savings per dollar invested in the college.
Steve Montgomery, President and CEO of the Fort Worth Chamber of Commerce threw in his two cents, stating to the City of Arlington, Texas, “TCC’s degree and certificate programs and corporate training opportunities are a real boost to the labor force and the economy in general.” That's not just talk. One out of every 25 county residents is taking a course at TCC each year, and one out of every 54 jobs in the county is riding on the coattails of TCC and its students.
