A new study highlights College of Western Idaho’s (CWI) significant contributions and economic impact to the region.
The economic impact study, completed by Emsi — a company specializing in reports for educational institutions, workforce planners, and regional developers, discovered CWI generates $102.1 million annually to the economy in the College’s service area. CWI’s 2016-17 operating budget was $57.2 million.
Key conclusions:
- CWI produces $102.1 million of economic activity in its service area.
- CWI’s payroll and funds spent on day-to-day operations amounted to a $60.3 million infusion into the local economy.
- CWI’s net impact of payroll and expenses in the region is approximately $39.1 million in income.
- CWI employed 1,218 full-time and part-time employees in fiscal year 2015-16.
The study states, for every dollar of public investment for CWI, the taxpayers receive a cumulative value of $7.30 over the course of students’ working lives — the average rate of return is 15.8 percent. This is a significant return on investment for the community. The College is on track to serve nearly 30,000 students in 2017-18.
“This study illustrates the depth and breadth of CWI, as an economic engine for the Treasure Valley,” said David Shellberg, Executive Vice President for Instruction and Student Services. “The College is an incredible return on investment, especially when you consider CWI has only been operating for eight years.”
The economic impact study points out after CWI has been in operation for 30 years, the education and training provided by the College will have generated $574.2 million in added income to its service area.
“CWI is on an incredible growth trajectory, the $102 million economic impact figure will help us illustrate the importance of the College in the community, from a dollar and cents perspective,” said CWI President, Bert Glandon. “People have a good idea of the quality of programs we offer to help prepare students for the workforce, but this study reinforces what a great investment the College is for the entire region.”
CWI is an important driving force in the region and helps to build a strong economic base. The College takes pride in partnering with local business and industry to ensure CWI is delivering highly-skilled students who excel in the workplace and can adapt to future changes in the marketplace.