By Angela Askey, Executive Director Public Relations and Marketing
PINAL COUNTY, Ariz. – Central Arizona College (CAC) plays a significant role in Pinal County’s economy, according to a study conducted by Lightcast, a leading provider of economic impact studies and labor market data.
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 college’s economic impact is related to construction and operations spending, student spending and alumni earnings and productivity. During the 2023-2024 analysis year, 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 (GRP). One out of 46 jobs in Pinal County are supported by CAC activities and students.
The study consists of two analyses: an economic impact analysis and an investment analysis. While the economic impact analysis measures how the college affects the local economy, the investment analysis compares the costs and benefits experienced from three different perspectives and evaluates the resulting return on investment for each.
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.
CAC also adds value to the county economy as an employer of county residents and a large-scale buyer of goods and services. The college employed 709 full-time and part-time faculty and staff during the 2023-2024 fiscal year, 66% of whom lived in Pinal County. CAC’s operations and construction spending during the fiscal year added $48.3 million in income to the Pinal County economy.
Furthermore, during the 2023-2024 analysis period 19% of CAC’s students originated from outside Pinal County; some of these students relocated to the county to attend CAC. Additionally, some students from Pinal County would have left the county to seek education elsewhere if CAC did not exist. The expenditures of these students equated to $2.2 million in added county income. Students realize an average annual internal rate of return of 20.1% for investing in their education at CAC.
CAC is an attractive investment for taxpayers as well as students. The expenditure of taxpayer funds creates a wide range of positive social benefits and returns more to government budgets than it costs. According to the analysis, Lightcast indicated, “Total taxpayer benefits amount to $39.7 million, the present value sum of the added tax revenue and public sector savings.” Additional benefits to taxpayers are observed through savings resulting from improved lifestyles of CAC students and reduced government services such as health care, justice system needs and income assistance. Social benefits of CAC provide a total value of $523.9 million.
“Many times, we do not recognize that higher education has a direct economic impact,” stated Dr. Jackie Elliott, CAC President/CEO. She added, “The Lightcast report is a testament to CAC’s impacts for students, alumni and Pinal County community members.”
The full report can be found at https://centralaz.edu/institutional-effectiveness/Main Report
About Lightcast
Lightcast provides colleges and universities with labor market data that help create better outcomes for students, businesses, and communities. Our data, which cover more than 99% of the U.S. workforce, are compiled from a wide variety of government sources, job postings and online profiles and résumés. Hundreds of institutions use Lightcast to align programs with regional needs, drive enrollment, connect students with in-demand careers, track their alumni’s employment outcomes and demonstrate their institution’s economic impact on their region. Visit lightcast.io/solutions/education to learn more or connect with us.
About CAC
For more than 50 years, Central Arizona College has been serving and educating the diverse communities of Pinal County. With five campuses located strategically throughout the county, CAC provides accessible, educational, economic, cultural and personal growth opportunities for those of all ages.
CAC is an equal opportunity employer and complies with all applicable federal, state and local laws regarding equal employment opportunity and antidiscrimination. CAC strictly prohibits and does not tolerate discrimination on the basis of the following protected classes and/or characteristics, in all of its operations, programs and activities, including but not limited to employment, promotion, admissions and access to all career and technical programs: race, color, religion, creed, national origin or ancestry, ethnicity, sex, age, physical or mental disability, citizenship, past, current, or prospective service in the uniformed services, genetic information or any other characteristic protected under applicable federal, state or local law. For more information contact: Laura Shepherd, Title IX Coordinator at 480‐677‐7853 or titleix@centralaz.edu; Section 504/ADA Coordinator at 520‐494‐5409 or studentaccessibility@centralaz.edu or Human Resources: human.resources@centralaz.edu.
