Kansas Independent College Association (KICA) released the results of an economic impact study on its 20 partnering institutions. The study estimates Tabor College to have an annual impact of $34.8 million on the Kansas economy.
This study was commissioned in partnership with the KICA and Tabor and was conducted by Parker Phillips, a nationally recognized consulting firm that specializes in economic impact analysis.
“Tabor College benefits greatly from our strong relationship with the City of Hillsboro and the surrounding region, and this study confirms the significant economic impact Tabor has on our community,” President David Janzen said. “When Tabor accomplishes its mission, vision, and values, our students impact our region and the world both spiritually and economically.”
The assessment was made after examining direct spending on Tabor operations ($31.2 million). It includes an estimated $3.5 million in student and visitor spending. The college also generates $1.8 million in state & local tax revenue.
As a result of operations, student spending, and visitor spending, Tabor supports 242 jobs (159 direct and 83 indirect/induced).
The combined labor income impact from Tabor is $13.8 million, including $12.3 million in operations, $1.0 million in student spending, and $351,556 in visitor spending.
Statewide, all private, nonprofit colleges and universities, including all 20 KICA members, plus the spending of its faculty, staff, and students, had a total statewide economic impact of $1.1 billion. This activity generated an estimated 8,269 jobs in Kansas. The economic impact includes $859 million in direct and $234 million in indirect and induced spending. The estimated jobs break down to 3,654 direct at the colleges and universities. KICA colleges and universities also generate $65.7 million in state and local taxes through local spending and the jobs they support or sustain.
“The private, nonprofit colleges and universities of Kansas play an essential role in growing Kansas’ economy — through talent development and opening the doors of educational opportunity for the citizens of Kansas,” said Matt Lindsey, president of Kansas Independent College Association, in its release. “It’s also important to note that through their annual operations and the impact of alumni after graduation, our colleges and universities have a significant impact on their local economies and the state as a whole.”