PETOSKEY — Labor market analytics firm Lightcast shows the NCMC contributed $78.9 million to the regional economy in the 2023-2024 fiscal year.
“I look at both how we’re supporting individuals-helping build their careers and lives-as well as our host communities,” North Central Michigan College president Dr. David Roland Finley. “If you take a student, the return on investment for studying here is over 15%, I think, about 15.5. If you look at the stock market, historically, that return on investment has been 8 to 10%. So, this is a really good investment in oneself”
The study says NCMC supports one in every 66 jobs in the region.
That includes direct employment, alumni earnings, and operational spending.
Graduates with associate degrees are earning an average of 84-hundred dollars more each year.
“That’s the social impact return. If a student comes here and winds up with a good-paying job, they’re not drawing as hard on the health system, the welfare system, the legal system. And so those avoided costs are a big part of what makes that ratio,” said Finley.
The college’s partnerships with industries like healthcare and advanced manufacturing are also paying off. North central is expanding programs that train skilled workers for high-demand local jobs.
“Businesses benefit from us providing the workforce talent. We benefit from getting to live in a thriving community,” said Finley.
“Our construction expenditures help support the jobs of local construction firms,” said associate vice president of institutional effectiveness Erin Sonneveldt.
Molly Arthur, a North Central alumnus said her friend attended NCMC’s nursing program:
“She was able to get into a little urgent care, I think in Petoskey or Charlevoix, she got hired so easily because she went to North Central Michigan college. Their nursing program is amazing,” said Molly Arthur.
The report says for every one dollar spent, $7.20 is returned to local communities.