Clover Park Technical College adds nearly $200 million annually to Pierce County’s economy, according to a new study by Economic Modeling Specialists International.
The study, commissioned by CPTC, calculated that the college and its students added $187.9 million in income to the Pierce County economy during the 2014-15 analysis year. Furthermore, CPTC students will see a $2.50 return for every dollar they spend on the education at the school.
“We’ve long seen the impact our students and alumni have on meeting workforce demand within Pierce County,” CPTC President Dr. Joyce Loveday said. “We’re excited to see this study reveal an impressive numerical value that quantifies the impact of our work. We’ve been a vital member of the community for 75 years, and the value of higher education and workforce training is only growing.”
The school also creates value as an employer in the county. In fiscal year 2014-15, the college employed 322 full-time and part-time faculty and staff —80 percent of which lived in Pierce County. CPTC’s day-to-day operations added $32.6 million in income to the county, while student spending added $8.3 million, and students and alumni generated $147 million in added income for the county.
That total figure of $187.9 million is equivalent to supporting 2,803 jobs.
“We’ve always been proud of the positive impact a professional degree or certificate has on the lives of our graduates,” Loveday said. “It’s gratifying now to see the impact of their success on the local economy and community. A technical degree provides local industries with well-qualified workers that boost the local economy and provide a significant positive return to taxpayers and society.”