A report by Lightcast found that the Career Technical Education (CTE) programs at San Diego Miramar College provided a $508.2 million dollar economic boom to the San Diego region during the 2023-2024 fiscal year.
“This study confirms what we have long believed, the incredible CTE programs at Miramar College make a positive impact on the San Diego region,” said San Diego Miramar College President Dr. Wesley Lundburg. “The investment in these programs generate an amazing return for business owners, students and taxpayers.”
Using a two-pronged approach that involves an economic impact analysis and an investment analysis, this study calculates the benefits received by students, taxpayers and the community at large.
Economic Impact Analysis
In fiscal year 2023-2024, Miramar’s CTE added $508.2 million in income to the San Diego County economy. In terms of jobs, Miramar’s CTE impact supported 5,127 jobs.
Operations Spending Impact
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Miramar College employed 815 full-time and part-time CTE faculty and staff. CTE payroll amounted for $39.6 million. CTE spent another $27.3 million on expenses related to facilities, supplies and services.
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The net impact of the college’s CTE operations spending added $53.6 million in income to the county.
Student Spending Impact
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Around 13% of CTE students attending Miramar College originated from outside San Diego County. In addition, some in-county students, referred to as “retained” students, would have left the county for other educational opportunities if not for Miramar’s CTE programs.
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The expenditures of relocated and retained CTE students added $87.8 million in economic income to the region.
Alumni Impact
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The net income of former Miramar College CTE students in the workforce is $366.9 million
Investment Analysis
Students perspective
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CTE students paid a present value of $9.9 million to cover the cost of tuition, fees, supplies and interest on student loans. They also forwent a value of $59.1 million in time and money had they been working instead of attending college.
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In return for their investment, CTE students will receive a cumulative present value of $368.4 million in increased earnings over their working lives. This translates to a return of $5.30 in higher future earnings for every dollar students invest in their education. Students’ average annual rate of return is 18.5%.
Taxpayer perspective
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Taxpayers provided Miramar’s CTE with $63.2 million of funding for FY 2023-2024. In return, they will benefit from added tax revenue stemming from CTE students higher lifetime earnings and increased business output amounting to $156 million. A reduced demand for government services in California will add another $26.1 million.
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Total taxpayer benefits amount to $182.1 million. For every dollar of public money invested in Miramar’s CTE, taxpayers will receive $2.90 in return over the course of employment. The average annual rate of return for taxpayers is 7.8%.
Community perspective
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For FY 2023-2024, California invested $132.7 million to support Miramar’s CTE. In turn, the California economy will grow by $2 billion over the course of CTE students’ working lives. Society will also benefit from $35.6 million of public and private sector savings.
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For every dollar invested in Miramar CTE in FY 2023-2024, people in California will receive $15.50 in return, for as long as the CTE students remain active in the state workforce.
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