A recent study shows Central Virginia Community College creates a positive net impact on the regional economy and generates a positive return on investment for students, taxpayers and society.
The study, entitled “The Economic Value of Central Virginia Community College,” was conducted by Lightcast, a research system which provides colleges and universities with labor market data to help students, businesses and communities.
For the purposes of the analysis, the regions deemed as CVCC’s service area include Amherst, Appomattox, Bedford and Campbell counties, and the city of Lynchburg.
According to the study, CVCC generated $224.6 million annually in economic activity throughout the regions it served in fiscal year 2021-22, which is the most recent data as fiscal year 2022-23 isn’t available.
The annual economic activity is equal to nearly 2% of the total gross regional product of its service area, the study states.
The added income is equivalent to supporting 3,506 …