Central Piedmont contributes $1.2 billion annually to Mecklenburg economy
The results of an economic impact study conducted for Central Piedmont found the institution contributes $1.2 billion annually to the Mecklenburg County economy, an amount equal to one percent of the county’s gross regional product.
Central Piedmont’s measured annual $1.2-billion economic impact includes $155.4 million in operations spending, $36.5 million in construction spending, $42.1 million in student spending, and a $919.5-million impact made by college alumni who live and work in Mecklenburg County.
“For more than 56 years, Central Piedmont Community College has established a record and reputation for making a positive impact in Mecklenburg County,” said Dr. Kandi Deitemeyer, Central Piedmont president. “We know generations of students and hundreds of employers have been benefitted from having a comprehensive college and workforce development partner such as Central Piedmont serving Charlotte-Mecklenburg. We also know Central Piedmont makes a significant impact as an economic engine, boosting the county’s economy and generating an excellent return on the investment made by students and taxpayers.”
The economic modeling firm Emsi conducted the study, looking at college data from the 2017-18 fiscal year. The study found that for every dollar students invest in their Central Piedmont education they receive $3.20 in future earnings for an annual rate of return of 15.5 percent. For every dollar of public money invested in the college, taxpayers receive $1.70 for an average rate of return of 4.5 percent.
For more details about the economic impact study, review the economic impact fact sheet (PDF).