The Economic Value of Somerset Community College | SCC

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The Economic Value of Somerset Community College

Reflects Fiscal Year 2022-23 

About KCTCS: 7,188 Credit Students; 1,508 Non-credit students; 566 Employees

Economic Impact Analysis

Alumni Impact. See "Accessible Description" below.

Operations spending impact. See "Accessible Description" below.

Student spending impact. See "Accessible Description" below.

The SCC Service Area, KY: Whitley, McCreary, Wayne, Clinton, Cumberland, Adair, Casey, Lincoln, Rockcastle, Jackson, Clay, Laurel, Pulaski, Russell

1 out of every 56 jobs in the SCC Service Area is supported by the activities of SCC and its students

SCC total annual impact: $166.8 million added income or 2,819 jobs supported

Investment Analysis

For every $1...

Students gain $7.70 in lifetime earnings
Taxpayers gain $3.00 in added tax revenue and public sector savings
Society gains $9.10 in added income and social savings
The average associate degree graduate from SCC will see an increase in earnings of $8,100 each year compared to someone with a high school diploma working in Kentucky. Earnings by education level. See "Accessible Description" below.

 

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Reflects Fiscal Year 2022-23

About SCC

  • 7,188 Credit students
  • 1,508 Non-credit students
  • 566 Employees

The SCC Service Area, KY

  • Whitley
  • McCreary
  • Wayne
  • Clinton
  • Cumberland
  • Adair
  • Casey
  • Lincoln
  • Rockcastle
  • Jackson
  • Clay
  • Laurel
  • Pulaski
  • Russell

1 out of every 56 jobs in the SCC Service Area is supported by the activities of SCC and its students.

SCC total annual impact

  • $166.8 million in added income
  • 2,819 jobs supported

Economic Impact Analysis

Alumni Impact

Impact of the increased earnings of SCC alumni and the businesses they work for.

$137.1 million in added income

  • 21x: An economic boost similar to hosting the World Series
  • 2,157 Jobs Supported

Operations spending impact

Impact of annual payroll and other spending.

  • $26.6 million in added income: Enough to buy 564 new cars
  • 639 Jobs supported

Student spending impact

Impact of the daily spending of SCC students attracted to or retained in the region.

$3.2 million in added income

  • Enough to buy 255 families* a year's worth of groceries
  • 23 Jobs supported

*family of four

Investment Analysis

For every $1...

  • Students gain $7.70 in lifetime earnings
  • Taxpayers gain $3.00 in added tax revenue and public sector savings
  • Society gains $9.10 in added income and social savings

The average associate degree graduate from SCC will see an increase in earnings of $8,100 each year compared to someone with a high school diploma working in Kentucky.

Education Level vs. Yearly Earnings
Education Level Earnings
< High School $20,000
High School $25,700
Certificate $29,200
Associate $33,800
Bachelor's $46,700