BEDFORD – Middlesex Community College has been a vital and prosperous institution for 50 years and a recent report further supports the college’s success rate.
A recently released report noted that the university has generated $358.7 million for the Massachusetts economy thanks to its graduates and financial investments. Those alumni add up to over 26,000 people, along with 12,000 credit and noncredit students taught every year.
“MCC reshapes students’ academic, professional and personal lives by offering affordable, high-quality courses, resources and opportunities for a diverse population,” James C. Mabry, MCC’s president said in a release. “A leader of STEM, health and other fields, Middlesex trains future employees to impact our futures. This recent report solidifies the importance of our role in making a positive and meaningful difference to our service area.”
Thanks to the plethora of students paying their way through classes, the university noted that the annual rate of return for students is 20.9%, $5.70 for every dollar a student at MCC, for a total of $324.5 million. Students’ support can also be found in the $7.9 million in income to the local service area. Of course the support doesn’t just end after graduation day, as those who stay in the area neighboring the university to enter the workforce account for $291.7 million.
“We have seen the dramatic impact that Middlesex has had on downtown Lowell, but this report details how expansive an impact the college has had on not just our surrounding communities, but the Commonwealth of Massachusetts,” MCC Trustees Chairman James Campbell said. “This is a tremendous validation of the work our students, staff and faculty have invested into the workforce of Massachusetts.”
Between 2018-2019, MCC supported 3,864 jobs. The college’s 961 full- and part-time employees account for $46.7 million in payroll, with those employees investing their money back into the commonwealth by paying for groceries, housing, dining and other expenses. The university itself spent $1.9 million in construction on campus facilities, creating new jobs.
With taxpayer support, MCC is set to receive increased business output of $88.3 million with another $6 million with reduced demand for government-funded services. Taxpayers get $2.50 for every dollar invested, an average annual rate of return at 7.4%. The university believes continuous investment in the school could grow the state economy by $1.1 billion for the during students’ professional lives, receiving $13 million in savings and $11.20 for every dollar invested.