Economic Impact Study
Hancock Keeps Our Local Economy Strong
As Northern Santa Barbara County's premier higher education institution, Allan Hancock College plays an integral role in keeping our local economy strong.
An independent study by EMSI (Economic Modeling Specialists Int.) has confirmed this fact, and reveals just how good an investment Hancock is for students, taxpayers, businesses, employers, and our community.
EMSI's Economic Impact Study (EIS) examined the economic impact of fiscal year 2019 through 2020. The report concluded that Hancock alumni, students, employees and overall college operations generates $541.1 million for the regional economy annually.
The results of the study clearly showed that Hancock is a sound investment for our students, alumni, and local taxpayers. The study also found that:
- One out of every 146 jobs in the AHC Service Area is supported by the activities of the college and its students.
- The average Associate Degree graduate from Hancock makes will see an increase of $9,200 each year compared with a person with a high school degree or equivalent working in California.
- Hancock students can expect to receive $4 in higher future earnings for every dollar students invest in their education. Students’ average annual rate of return is 19%.
- For every dollar of public money invested in AHC, taxpayers will receive $1.30 in return, over the course of students’ working lives. The average annual rate of return for taxpayers is 3.3%.
EMSI, a CareerBuilder company, is a leading provider of economic impact studies and labor market data to educational institutions, workforce planners, and regional developers in the U.S. and internationally. Since 2000, EMSI has completed over 1,700 economic impact studies for educational institutions in four countries.
Visit economicmodeling.com for more information.