Prescott College’s Economic Impact Continues to Increase in Pace with Annual Budget
Prescott College’s economic impact in Prescott and Yavapai County continues to grow in pace with the growth of the school, according to recent numbers released by Chief Financial Officer Dr. Steven Corey.
“The last ten years have been an unprecedented period of economic stability and steadily increasing economic contributions to the local community,” he said, noting that Prescott College’s national student enrollment base means Prescott College students import funds from around the country into the local economy. Over 500 Prescott College students live locally and expend over $4.8 million a year in basic living expenditures, while low-residency program students spend over $1.16 million locally each year when they return to campus for courses and residencies.
The College funded an annual budget of over $22.15 million in fiscal year 2009-10. This include over $3 million in scholarships to students, including $9.8 million payroll for over 200 faculty and staff. Of that figure $9.3 million was paid to employees who live locally. The annual impact of Prescott College on the local economy estimated at over $26,362,000 in direct economic contribution, which translates to an indirect local economic impact of $79.1 million, with over 768 local jobs directly and indirectly attributable to the economic contributions of Prescott College. In addition, it is estimated that $4.5 million is spent locally by the College for basic goods and services.
In contrast, at last estimate (2006) the annual impact of Prescott College on the local economy was calculated at $14.4 million in direct economic contribution, with indirect local economic impact estimated to be in excess of $43.2 million and approximately 500 local jobs directly and indirectly attributable to the economic contributions of Prescott College.
Looking beyond dollars, the College offers over 100 no-cost and low-cost entertainment and educational lectures, seminars, and other enriching events and classes to the local community each year. The College has graduated approximately 10,000 alumni, 3,000 of whom live in Yavapai County. A third of Prescott College alumni report they’re in education, which could translate to as many as 1000 of the region’s 3600 teachers. Many landmark businesses and social enterprises in Prescott have been and are founded and managed by alumni. Prescott College alumni hold high-profile positions in local arts, business, social services, the nonprofit sector, and government.
Prescott College continues to receive high marks from rating and ranking services. Prescott College has been named one of the best colleges in the West according to The Princeton Review. The selective Fiske Guide to Colleges included Prescott College in its updated 2011 guide to the “best and most interesting” 330 colleges and universities in the US and Canada.
Prescott College is one of the oldest, if not the oldest, environmentally focused college in US. The Princeton Review: Guide to Green Colleges named the College as one of the country’s most environmentally responsible school, according to The Princeton Review and the US Green Building Council (USGBC). The National Wildlife Federation: Generation E - The National Wildlife Federation cited Prescott College as a school that offers an example of proactive sustainability policy in its 2009 Generation E Campus Ecology report
Prescott College was granted a ten-year reaccreditation through the Higher Learning Commission (HLC) – the longest period of accreditation available. (HLC is an accrediting body recognized by US Dept of Ed) The Association for Experiential Education, the Accreditation Council of the Association for Experiential Education (AEE), has granted a ten-year Continuing Accreditation to Prescott College, the longest accreditation offered by the organization.
About Prescott College
Prescott College offers a resident B.A. program at its main campus in Prescott, Ariz., as well as low-residency B.A., M.A., and Ph.D. degree programs through which students complete their studies in their home communities with the help of faculty mentors. All programs emphasize student-directed, experience-based learning by doing, environmental and cultural awareness, and social justice. For more information please contact Mary Lin, M.Ed. M.F.A., Director of Marketing and Public Relations at 928-350-4503 or firstname.lastname@example.org. More information is on the web at www.prescott.edu.