Miami Dade College (MDC) creates value in multiple ways. An MDC education delivers excellent value to students, taxpayers, and society. MDC is the region’s accessible, quality higher education destination. The College delivers affordable pathways to rewarding careers and is a large regional employer committed to collaborating and partnering to strengthen the fabric of the community. MDC educates and empowers students and alumni who use their heightened skills to advance in their careers, which adds to the tax base, and promotes community resilience and stability while contributing to elevated civic engagement.
The Economic Value of Miami Dade College to Miami Dade County (2024) report by Lightcast economists – industry leaders in this type of analysis – identifies returns to students, taxpayers, and society on their investment in an MDC education. The study shows a $5.0 billion economic impact by MDC, supporting 62,393 jobs in the community, and documents the benefits the college generates in return on the investments made by key stakeholder groups. Two analyses are presented: an Economic Impact Analysis and an Investment Analysis. What’s the bottom line? The analysis verifies that MDC is an exceptionally worthwhile investment compared to the returns from other available investment opportunities. Highlights appear below, and linked documents provide additional details.
MIAMI DADE COLLEGE
IMPACT & RETURN ON INVESTMENT
- Economic Impact
• In FY 2022-23, MDC added $5.0 billion in income to the Miami Dade County Economy
• This is equal to about 2.5% of the county’s total gross regional product. - Jobs Supported
• MDC’s impact supported 62,393 jobs in the community.
• MDC graduates have higher incomes, contributing to a larger tax base. - Taxpayers
• MDC generates over 3 times the revenue received from taxpayers.
• For every $1 the state invests, taxpayers get back $3.10 in added tax revenues and public sector savings. - Students
• For every $1 students invest to attend MDC, they get back $11 in lifetime earnings.
• MDC graduates earned a rate of return on their college investments of 29.8%.
Lightcast (2024). The Economic Value of Miami Dade College to Miami Dade County. Moscow, ID: Author.
MIAMI DADE COLLEGE
IMPACT & RETURN ON INVESTMENT
EVERY DOLLAR INVESTED IN MIAMI DADE COLLEGE YIELDS...
$1.00 invested
- $3.10 returned in Taxpayer Revenue & Public Sector Savings
- $11.00 in Student Lifetime Earnings
- $15.00 in Social Income Gains and Savings
Lightcast (2024). The Economic Value of Miami Dade College to Miami Dade County. Moscow, ID: Author.
MDC BEATS THE STOCK MARKET BY NEARLY 3:1
| MDC students enjoyed an average rate of return on their college investment of 29.8% over their working lifetime. | S&P 500 30YR AVG ANNUAL RATE OF RETURN 10.1% |
|---|---|
| The S&P 500 had an average annual rate of return of 10.1% over the last 30 years. By investing in themselves, MDC students beat the stock market by nearly 3:1. | MDC STUDENT AVG RATE OF RETURN 29.8% |
Lightcast (2024). The Economic Value of Miami Dade College to Miami Dade County. Moscow, ID: Author.
MIAMI DADE COLLEGE
IMPACT & RETURN ON INVESTMENT
Miami Dade College pumps millions of dollars into Miami Dade County – creating jobs, wealth, and opportunities for area residents.
Lightcast (2024). The Economic Value of Miami Dade College to Miami Dade County. Moscow, ID: Author.