SAN MARCOS \u2013 Palomar College is a regional powerhouse of economic impact, contributing $910.7 million to the North San Diego County\u2019s gross regional product annually.\u00a0 In addition, the District added 1,709 jobs to its service area, according to a report from Emsi, an Idaho-based firm that specializes in analyzing colleges\u2019 and universities\u2019 economic impact.<\/p>\n
\u201cWhile we know that Palomar College, which serves one-quarter of San Diego County, has a significant effect on the region, this report illustrates how large the economic impact is to our students and the businesses in our District,\u201d said Dr. Joi Lin Blake, superintendent\/president of Palomar Community College District. \u201cWe are excited to share this with our partners; to show how the local economy increases, businesses benefit and communities prosper from the reach and contributions the College has on North County.\u201d<\/p>\n
The study reported that for every dollar of public money invested in Palomar Community College District, taxpayers receive a return of $3.30 in added state revenue and social savings.\u00a0 And for every dollar spent on students, $4.90 is gained in lifetime earnings.\u00a0 The report further indicated that the average associate degree completer from Palomar College will see an increase in earnings of $11,700 each year compared to someone with a high school diploma or equivalent.\u00a0 The average annual rate of return students receive on their investment in a Palomar education is an impressive 20 percent!<\/p>\n
\u201cWe are very proud of the impact the District has the San Diego North County region and we are confident that we are effectively serving the students and the taxpayers,\u201d stated Mark Evilsizer, president of the Palomar Community College District Governing Board.\u00a0 \u201cOur students, faculty, staff, and vendors greatly increase the region\u2019s economy.\u201d<\/p>\n
Other highlights of the newly released study: Palomar College employs more than 1,700 full-time and part-time employees; and Palomar College students yield a total savings of $79.3 million in benefits derived from lower unemployment, increased health, and other social costs.<\/p>\n
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Media Contact: Laura Gropen, Director, Public Affairs, 760-744-1150 x2152<\/p>\n","protected":false},"excerpt":{"rendered":"