NORTH EAST, MD — Cecil College continues to prove its value as both an educational institution and a significant economic engine for the region. According to a December 2024 Economic Impact Study by Lightcast, Cecil College generated $198.1 million in income for the local economy in fiscal year 2022-23, supporting over 2,600 jobs and delivering substantial returns to its stakeholders.
From its operational spending and infrastructure investments to student expenditures and alumni contributions in the workforce, Cecil College creates a wide-reaching impact. Its influence extends beyond Cecil County to neighboring Chester County (PA), New Castle County (DE), and Harford County (MD). For every dollar invested by the state, the college creates a remarkable $4.70 return, underscoring the value of higher education as an investment not only in individuals but in the region’s future.
“Cecil College creates a significant positive impact on the business community and generates a return on investment to its major stakeholder groups — students, taxpayers, and society,” said Cecil College President Dr. Mary Way Bolt.
Economic and Community Impact
The study highlighted the far-reaching benefits of Cecil College’s activities. Students’ higher lifetime earnings and increased business activity generated $18.2 million in additional state and local tax revenue while reducing public assistance expenses by $2.8 million. On a state level, Maryland’s economy will see $218.8 million in gains throughout students’ working lives, in addition to $5.8 million in public and private sector savings.
The college also plays a crucial role in employment, with 747 faculty and staff contributing $20.5 million annually in payroll. Most of this income is spent locally on goods and services, amplifying its economic contributions. Annual capital projects, meanwhile, provide a short-term economic boost, generating $1.4 million in regional spending for improvements to facilities and expansions to meet growing educational demands.
Additionally, five percent of Cecil College’s student population relocates from outside the region, injecting $2.6 million annually into the local economy through housing, groceries, and other living expenses.
Student and Taxpayer ROI
Cecil College also delivers strong financial returns for students. Over their working lives, students will collectively gain $78.1 million in increased earnings, representing an 18.6% annual rate of return. This is equivalent to an average of $4.40 in future income for every dollar invested in tuition, fees, and other associated costs.
Taxpayers experience meaningful returns, too. The college’s operations and its workforce reduce government expenditures while adding to taxable income, ultimately making it a key contributor to the region’s economic sustainability.
“Investors have a saying, ‘Pay yourself first,’ and as an educator, I tell my students, ‘Invest in yourself,’” said economist and Cecil College Professor Candace Vogelsong. “Studies have shown that higher educational attainment leads to significant income growth over decades. Ultimately, investing in yourself pays off.”
Statewide Alignment
Cecil College’s contributions align with the broader impact of Maryland’s community colleges, which collectively added $11 billion to the state’s economy in fiscal year 2022-23. This figure accounts for 2.4% of Maryland’s gross state product and supports more than 127,000 jobs, according to the Maryland Association of Community Colleges.
By providing affordable education, fostering workforce development, and actively engaging in regional growth, Cecil College stands as a shining example of the positive influence higher education institutions can have on their communities. With measurable economic benefits and life-changing opportunities for students, the college continues to build a promising future for Maryland and beyond.
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