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Economic Impact
Benefits to the State and the Students
Economic Impact of Casper College Fact Sheet
What role does Casper College play in the local economy? Business sales in the Natrona County Service Area are $307 million greater, and labor income is $140 million greater due to the past and present operations of Casper College. The benefits of a robust local economy translate into job and investment opportunities, increased business revenues, greater availability of public funds, and an eased tax burden.
Casper College stimulates the local economy
- Casper College had operating expenses of $34 million in fiscal 2004, and spent $24 million (72%) of this in the Natrona County Service Area to purchase supplies and pay salaries, wages, and benefits (i.e., earnings).
- Casper College employs 331 full-time and 128 part-time faculty and staff. Casper College paid faculty and staff wages, salaries, and benefits of $20 million in fiscal 2004.
- For every $1 Casper College pays in earnings, there is an additional $0.45 in earnings generated off campus in the Natrona County Service Area economy-this is the commonly known multiplier effect.
- Casper College activities encourage new business, assist existing business, and create long-term economic growth. The college enhances worker skills and provides customized training to local business and industry. It is estimated that the present-day Natrona County Service Area workforce embodies over 1.3 million credit and noncredit hours of past and present Casper College training.
- Casper College skills embodied in the present-day workforce increase by $156 million the output of industries in the Natrona County Service Area economy, where the former students are employed. Associated multiplier effects (sometimes called indirect effects) in other industries increase sales by $127 million.
- Casper College skills from current and former students increased earnings in the Natrona County Service Area by $63 million directly, and by another $47 million indirectly in fiscal 2004.
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