Last year, the Texas Association of Community Colleges commissioned CCBenefits, Inc. to study the economic impact of Texas Community Colleges on the state's economy. The Houston Endowment Inc. and the 50 community college districts in the state funded the project.

Here is a summary of their findings.

The overall conclusion of the study: community colleges are working for Texas, producing significant returns for the state's economy, students, and taxpayers.

Impact on Texas' Economy

o Total Economic Impact: $13.5 billion, 351,530 jobs

o The 50 community college districts account for $1.9 billion in the Texas economy.

o Wages and salaries generated by former students: $11.6 billion.

Impact on Taxpayers

o The State of Texas benefits from improved health and reduced welfare, unemployment, and crime, saving the public $276.3 million per year.

o In broad terms, this means a return of $18 for every dollar invested by state and local government over the next 30 years.

o Using a narrow analysis, the return will be $3 per dollar invested.

o Taxpayers see a book rate of return of 15.9 percent on their annual investment and recover all investments in 8.2 years.

Impact on Students

o For every dollar a student invests in community college education, he or she will receive $9.05 in higher future earnings over the next 30 years.

o Average Rate of Return on Investment in a Community College Education: 26.1 percent.

o Payback period: 5.8 years