Glen Oaks Community College

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Glen Oaks Community College Boosts Local Economy and Improves Lives, Study Finds

A recent economic and investment analysis reveals that Glen Oaks Community College (GOCC) significantly contributes to both the local economy and the lives of its students, according to a comprehensive study conducted for the fiscal year 2021-22.

The study, leveraging data from GOCC’s academic and financial reports and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, demonstrates how the community college enriches the GOCC Service Area, including parts of Branch, Cass, and St. Joseph counties in Michigan. Lightcast, a provider of labor market data, assisted in the analysis using its Multi-Regional Social Accounting Matrix model.

Economic Impact Highlights

  • Total Economic Contribution: GOCC contributed $39.9 million to the local economy, supporting 665 jobs and equating to 1.6% of the total gross regional product (GRP) of the GOCC Service Area, which encompasses 13 zip codes across Branch, Cass, and St. Joseph Counties.
  • Operations Impact: The college’s operations, including a payroll of $8.6 million and additional spending on goods and services, injected $9.6 million into the local economy.
  • Construction and Student Spending: Investment in infrastructure and student spending, particularly those from outside the area, added nearly $1 million to the regional economy.
  • Alumni Impact: Former students, now integrated into the local workforce, added $29.3 million in income, showcasing the long-term benefits of GOCC’s educational programs.
    62249 Shimmel Rd., Centreville, MI 49032 (269) 467.9945 or toll-free (888) 994.7818
    Investment Returns Analysis
  • For Students: The analysis revealed a benefit-cost ratio of 6.3 for students, indicating that for every dollar spent on education at GOCC, students are expected to earn $6.30 in increased future earnings, translating to an impressive annual rate of return of 20.8%.
  • For Taxpayers: With $11.2 million in funding provided to GOCC, the taxpayers are set to see a return of $14 million in tax revenues and public sector savings, resulting in a benefit-cost ratio of 1.3 and an annual rate of return of 1.3%.
  • For Society: The broader societal investment of $20.6 million in GOCC is forecasted to yield $153.9 million in economic and social benefits, thanks to increased earnings, business outputs, and savings from improved public health and reduced public assistance needs. This results in a stellar benefit-cost ratio of 7.5.

    “Glen Oaks continues to be a vital economic engine and a transformative presence in the lives of our students and the community,” said former GOCC President Dr. David Devier. “This study quantifies our impact, demonstrating the significant return on investment for our students, taxpayers, and society.”

    Download a full copy of the study. https://www.glenoaks.edu/wp-content/uploads/2024/07/GOCC-MainReport.pdf

    The study can be found on the Glen Oaks website Transparency Reporting page: https://www.glenoaks.edu/about-us/transparency-reporting/