A report on the economic value of Forsyth Technical Community College to its service area in Forsyth and Stokes counties found that the college’s total impact was $627 million in fiscal 2017-18.
This total breaks down to $68 million in the college’s operations spending impact, $31.5 million in student spending impact and $527.5 million in alumni impact.
“That is 8,689 jobs supported,” Janet Spriggs, the president of Forsyth Tech, said during a recent presentation before the Forsyth County Board of Commissioners.
The report, which was commissioned by Forsyth Tech, states that the college influences the lives of its students and the regional Triad economy.
“Forsyth Tech plays a key role in helping students increase their employability and achieve their individual potential,” Spriggs said. “It also provides students with the education, training and skills they need to have fulfilling and prosperous careers.”
In an interview, Spriggs said that EMSI, which did the report, calculated 23 percent of the college’s students from outside the area in regards to the student spending impact.
The report found that for every dollar of public money invested in Forsyth Tech, taxpayers will receive a cumulative value of $2.80 over the course of the students’ working lives.
Spriggs said that the report affirms her assertion that Forsyth Tech is a great investment in this area’s communities and future.
“Not an expense item, but an investment for our community,” she said.
Forsyth Tech’s faculty and staff recently worked on a shared vision statement as the initial stage in preparing the college’s 2020-25 strategic plan: “Forsyth Technical Community College is a catalyst for equitable economic mobility, empowering lives and transforming communities.”
Spriggs, who just completed her fourth month at the helm of Forsyth Tech, called it a powerful vision statement.
“It really sets the stage for where we hope to take this great community college,” she said.
As Forsyth County heads into its 2019-20 budget process, Forsyth Tech is asking for a 2.5 percent increase in its operations budget from last year, not an increase in capital.
Spriggs said that this will basically cover increased costs for utilities such as electricity and gas.
“The other part of that is money that we will ask the county to hold for us until we see the state budget,” she said.
Forsyth Tech officials are hoping that there will be a state employee salary increase through the N.C. Legislature this year.