This report analyzed the current economic and social impact of Emily Griffith Technical College (EGTC) on the Denver region, as measured by student earnings gains. Over the past few academic years, EGTC has served an average of about 7,000 students per year. Of these, about 1,600 are enrolled in non-apprentice CTE courses, 2,700 in the apprenticeship program, and 2,700 in pre-college courses (ESL and GED) or continuing education.
BBC evaluated the economic impact of these educational pathways separately. The impact is measured through 1) The income gains of students completing EGTC courses and 2) The associated secondary impacts of those income gains (e.g. increased consumer spending and induced economic stimulation).
The analysis indicated that EGTC coursework resulted in $42.5 million in increased student earnings for the 2014-15 graduating cohort, generating a total annual economic and human capital impact of $62.3 million on the Denver region.
Over the course of ten years, that impact is compounded by additional graduates along with the previous graduates remaining in the Denver workforce. BBC estimates the total economic and human capital impact of EGTC on the Denver region’s economy between 2006 and 2016 to be $2.2 billion.
For each state dollar invested, EGTC generated $10 of realized and potential labor income gains in the local economy.
Every dollar invested by an individual student yields $7 in annual earning potential.
for 1 yr = $43 MM
for 2 yr = $75 MM
for 3 yr = $93 MM
for 4 yr = $135 MM
for 5 yr = $147 MM
for 6 yr = $176 MM
for 7 yr = $255 MM
for 8 yr = $264 MM
for 9 yr = $304 MM
for 10 yr = $349 MM