CENTRAL NEW MEXICO COMMUNITY COLLEGE
ECONOMIC
IMPACT
Overview Fact Sheet
Central New Mexico Community College plays a significant role in the local economy and is a sound investment
from multiple perspectives. Students benefit from improved lifestyles and increased earnings. Taxpayers benefit
from a larger economy and lower social costs. Finally, the community as a whole benefits from increased job and
investment opportunities, higher business revenues, greater availability of public funds, and an eased tax burden.
INVESTMENT ANALYSIS
ECONOMIC GROWTH ANALYSIS
Student Perspective
College Operations Effect
• CNM served 51,855 students in the 2010-11 report- • The CNM Service Area economy annually receives
ing year.
$79.8 million in income due to CNM operations.
• Education increases lifetime income. The average income at the career midpoint of someone with an associate’s degree in the CNM Service Area is $41,000.
Students enjoy a 14.1% rate of return on
their investment in CNM.
• The average CNM student’s income increases by $4.30
for every dollar invested in CNM.
Added income attributable to the
accumulation of CNM skills amounts to
$431.2 million each year.
Student Spending Effect
• CNM estimates that approximately 15% of its students come from outside the region.
• The expenditures of CNM‘s non-local students generate roughly $38.5 million in added income in the
CNM Service Area each year.
• Students enjoy an attractive 14.1% average rate of return on their CNM educational investment, recoverProductivity Effect
ing all costs in 10.5 years.
• The CNM Service Area economy embodies an estiSocial Perspective
mated 4 million credits that have accumulated over
• Higher earnings of CNM students and associated inthe past 30-year period as thousands of former CNM
creases in state income expand the tax base in New
students enter the workforce. Mexico by about $85.5 million each year.
• CNM credits translate to higher earnings for students
• New Mexico will see avoided social costs amounting to
and increased output of businesses. The added income
$5.1 million per year due to improved health, reduced
attributable to the accumulation of CNM credits in
crime, and reduced welfare and unemployment.
the workforce amounts to around $431.2 million
each year.
Taxpayer Perspective
• State and local governments allocated approximately Total Effect
$110.8 million in support of CNM in FY 2010-11.
• The total annual impacts on the CNM Service Area
sum to $549.6 million.
• For every dollar of this support, taxpayers see a return
of $1.60 (in the form of higher tax receipts and avoid- • The total impact represents 1.9% of the total regional
ed costs).
economy and roughly 12,400 average wage jobs.
• State and local governments see an annual rate of return of 5.6% on their support for CNM.
O C TO B E R 2012
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