June 13, 2018 – A recent study conducted by Younger Associates found that the economic impact generated by Bryan College and all related operations total $28.6 million for the 2016-2017 academic year.
Bryan College generates annual economic impact from ongoing operations and by capital investments. Economic impact is also generated by student spending in the local economy, as well as the special programs operated by the College that serve groups of people other than enrolled students.
“We are fortunate to be a part of such a strong community,” said Bryan College President Stephen Livesay. “This report shows that investment in Bryan College’s success coincides with the success of our area. Bryan continues to grow and develop so that we can help make all facets of our community stronger.”
Each year the staff, students, contractors, service providers and other vendors of Bryan College spend over $14 million with local businesses, including over $2.5 million on housing, over $2.5 million spent on transportation costs, and over $1.8 million spent for food and groceries.
Individuals employed by the College, both directly and indirectly, generated more than $18.2 million in total wages and benefits, and $551,922 in local tax revenues during the 2016-2017 school year.
In total, 574 jobs in Rhea County are supported by Bryan College operations. The College and dedicated contractors directly employ the full-time equivalent of 372 people. There are 202 indirect jobs that exist throughout the Rhea County economy because of the College’s operations. These jobs exist across all economic sectors in areas such as retail, business and professional services, wholesale suppliers, transportation, utilities, and construction.
The study, conducted by Younger Associates, is based on a model of the local economy, which utilizes data from the U.S. Bureau of Economic Analysis that is specific to Rhea County. Regional Input-Output Multipliers have been applied to determine economic impact in terms of dollar value of total economic output, jobs, wages, and local tax revenues generated as a result of Bryan College.
Younger Associates has conducted hundreds of economic impact studies across the United States for over 25 years. The firm’s methodology is recognized by the International Economic Development Council and utilized in courses by the Economic Development Institute.