ALEXANDER CITY, Ala. – According to a recent study done by a respected industry leader in labor market analytics, Central Alabama Community College (CACC) has impacted the economy of the four communities that house its campuses significantly over the last two years.
The study, done by analytics company Lightcast, showed that CACC has made a $76.8 million impact to its service area over the fiscal years (FY) 2020-21.
CACC has four campuses located in Alexander City, Childersburg, Talladega, and Prattville
“Central Alabama Community College has a far-reaching impact on our region,” Jeff Lynn, president of CACC, stated. “We take great pride in knowing that the college plays a key role in workforce development and employability in our service area through our educational and training programs.”
Lightcast conducted a full state economic impact report, and it estimated that students and alumni of colleges within the Alabama Community College System add $6.6 billion to Alabama’s economy and directly impacts 98,923 jobs in the state, representing about 2.7 percent of Alabama’s gross state product.
During FY2020-21, CACC employed 225 full-time and part-time faculty and staff. Payroll amounted to $9.8 million, much of which was spent in the region for groceries, mortgage and rent payments, dining out, and other household expenses.
CACC spent another $7.2 million on day-to-day expenses related to facilities, supplies, and professional services.
In terms of community retention and growth, the college’s operations spending added $13.4 million in income to the regional economy in FY2020-21.
The report suggested that around 17 percent of students come from outside the region and a number of said students relocated to CACC’s service area.
These individuals are referred to as “retained students” and are considered key factors in helping the growth of the college’s service area.
Lightcast analyzed data using FY2020-21 academic and financial reports from Alabama’s community and technical colleges as well as industry and employment data from the Bureau of Labor Statistics and Census Bureau.
