A new report shows that Central Arizona College generates tens of millions of dollars in income to Pinal County.
An analysis of the 2023-24 fiscal year found that CAC added $195.1 million in income to the Pinal County economy, a value equal to approximately 1.7% of the county’s total gross regional product, according to a press release from the college.
The study also found that one out of 46 jobs in the county are supported by CAC activities and students. The college’s economic impact is related to construction and operations spending, student spending and alumni earnings and productivity.
“Many times, we do not recognize that higher education has a direct economic impact,” stated Jackie Elliott, CAC president and CEO, in the release. “The Lightcast report is a testament to CAC’s impacts for students, alumni and Pinal County community members.”
Lightcast is an international company that provides labor market data to a variety of economic sectors.
Overall, Lightcast’s findings state that CAC “creates a positive net impact on the county economy and generates a return on investment for students, taxpayers, and society,” the press release continued.
The largest impact to Pinal County residents is the educational and training opportunities provided by CAC.
“Thousands of CAC graduates are employed in Pinal County and generated $144.6 million in added income to the county during the 2023-2024 fiscal year. Students who earn a degree at CAC can expect a lifetime of higher earnings,” the release stated.
CAC is also a large employer in the county. It employed 709 full-time and part-time faculty and staff during the 2023-2024 fiscal year, 66% of whom lived in Pinal County.
The college’s operations and construction at its various campuses during the fiscal year added $48.3 million in income to the county’s economy.
In fiscal year 2023-24, CAC’s construction spending generated “$10.3 million in added income, which is equivalent to supporting 149 jobs,” the analysis found.
The analysis also found that 19% of CAC’s students came from outside of Pinal County with some of them relocating to attend classes.
“Additionally, some students from Pinal County would have left the county to seek education elsewhere if CAC did not exist,” the release stated.
Spending by students equated to $2.2 million in added county income, the equivalent of 37 jobs, the analysis found.
“Benefits to taxpayers were observed through savings resulting from improved lifestyles of CAC students and reduced government services such as health care, justice system needs and income assistance,” the release stated. “Social benefits of CAC provide a total value of $523.9 million.”
Meet Janet Janet Perez joined Independent Newsmedia as editor of the Queen Creek Independent and Florence Independent in 2020. She started her career in 1989 with the Gannett-owned El Paso Times. In 1992, she moved to Tempe and has worked in newspapers, magazines, radio and television. She left Arizona for three years to work at New Mexico State University and Baylor University before returning to work at Arizona State University. Missing the business, she went back to journalism in 2017.
Community: A long-time pet owner, she supports animal welfare causes.
Education: University of Texas at El Paso with a BA in journalism and a minor in political science.
Random Fact: She had a head full of random facts.
Hobbies: Reading, watching documentaries, cooking and playing with her dogs.
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