Study says VC makes $110.8 million yearly impact in region
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ECONOMIC STUDYThe economic impact study will be presented at a number of community functions in the future and will eventually be accessible online at victoriacollege.edu.
Victoria College president Tom Butler believes economic findings from a recent study are more important than ever.
An economic impact study announced Monday at the regular VC board meeting shows the school adds $110.8 million in yearly regional income because of its operations and higher incomes of former students.
"It gives us some ammunition to talk about why we're important," Butler said. "It goes beyond the educational value we bring the community."
The study explained the college adds $91.5 million to the regional workforce because students who are skilled and trained earn higher incomes and boost business. The college also adds $17.4 million from paying faculty and staff, operating and capital expenditures.
Butler believes the numbers are significant as educators are faced with dire budget cuts.
"It shows we make a really significant economic contribution over and above the educational contribution," he said. "So why would you want to invest less from the educational standpoint and the economic standpoint."
Butler said the first draft of the state budget zeros out future student state financial aid and funding to help the school's nursing program. The first draft shows the college would lose $571,000 of grants and state aid.
The study also estimated the school's 2008-09 class will save the state $1.1 million because of decreased crime, unemployment and welfare spending.
In other action, the board approved a $42,492.53 construction project to add sidewalks, a handicap accessible bus stops and a crosswalk across Red River Street from the campus to Citizens Medical Center.
Corrected Jan. 26, 2011
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that makes more sense ms. erod
thanks for the update and correction
January 26, 2011 at 6:08 p.m.Robwert and Pat,
The correct cost for the sidewalks is $42,492.53. The previous number was a misprint. We've printed a correction as is our usual process.
Thanks for reading.
January 26, 2011 at 3:46 p.m.The Texas shortage of 27 billion does not include school districts, city, or county budgets. I'd like to know what that total is. For example, the overpasses for Salem and Mockingbird cost 122 million with interest of 30 million. That's 24% of the project cost. Let the closings begin.
January 25, 2011 at 7:40 p.m.Speaking of costs, did anyone look at the VISD balance sheet that was in the print edition today? It seems budget shortfalls are more than a state problem.
January 25, 2011 at 6:02 p.m.For that much $, I take it they are talking about a elevated walkway rather than a crosswalk across Red River.
January 25, 2011 at 5:59 p.m.'In other action, the board approved a $42.5 million construction project to add sidewalks, a handicap accessible bus stops and a crosswalk across Red River Street from the campus to Citizens Medical Center.'
I love how this was thrown in as the last paragraph.
WOW, 42.5 freaking million. Can someone please further explain this project. Also, can VICAD get the artist rendering of this project. No one is spending 42.5 million without a artist mockup and such.
January 25, 2011 at 4:38 p.m.42.5 million for for sidewalks!
Outrage!!!!!!!!
Fire EVERYBODY!!!!!!!!!!!!!!!!
January 25, 2011 at 4:11 p.m.