Share:
Waubonsee Highlights Its Role in Community Colleges’ $27.2 Billion Statewide Economic Impact.
New study reinforces value of Illinois community colleges and impact of Waubonsee in the Fox Valley area.
Illinois Community College Board (ICCB) data shows that Illinois’ community colleges are a powerful driver of the state’s economy, generating $27.2 billion in total economic impact and supporting 324,273 jobs statewide, according to a newly released economic impact study.
The report, The Economic Value of the Community Colleges of Illinois, reflects fiscal year 2023–24 data and underscores the critical role community colleges — including Waubonsee — play in workforce development, business growth, and economic mobility across the state.
“Waubonsee exists to help students succeed and communities thrive,” said Waubonsee President Dr. Brian Knetl. “We are pleased to see that play out in myriad ways each and every day, but to see the college’s overall impact on individuals, the region, and the state quantified in such a way is truly impressive and a definite point of pride.”
The study finds that Illinois community colleges contribute to the economy through operations, construction, student spending, and — most significantly — the long-term success of their graduates. Alumni impact alone accounts for $25 billion in added income to the state economy.
“Illinois community colleges are one of the smartest investments we can make in our state’s future,” said ICCB Executive Director Brian Durham. “This study makes it clear — our colleges are not only transforming lives through education, but they are also strengthening Illinois’ economy, supporting hundreds of thousands of jobs, and delivering real returns for taxpayers and communities across the state.”
Waubonsee's Local Impact
The study makes Waubonsee’s economic impact quite clear — a $285 million total impact, which is the equivalent of 3,957 jobs supported. Put another way, one out of every 60 jobs in Community College District 516 is supported by the activities of the college and its students.
The impact is equally impressive at the individual student level. The average associate degree graduate from Waubonsee will see an increase in earnings of $6,900 each year when compared to a person with a high school diploma or equivalent. Over a working lifetime, that amounts to almost $290,000 in higher earnings per graduate. It also means that for every $1 they invest in their education, Waubonsee students get a return of $4.40 in future earnings.
Statewide Impact Highlights
Key findings from the study include:
- $27.2 billion total economic impact in Illinois
- 324,273 jobs supported — equal to 1 out of every 26 jobs statewide
- $1.8 billion generated through college operations
- $385.5 million added through student spending
- $25 billion in economic impact from alumni contributions
- 538,541 students served during FY 2023–24
The study also highlights strong returns on investment:
- Students: $4.30 in lifetime earnings for every $1 invested
- Taxpayers: $1.30 return for every $1 invested
- Society: $6.70 return for every $1 invested
“This report clearly demonstrates that Illinois community colleges are among the most effective investments our state can make. The return is not only measured in economic impact, but in stronger communities, a more competitive workforce, and expanded opportunities for students across Illinois. Our colleges deliver value at every level — for students, for taxpayers, and for the future of our state,” said Jim Reed, President of the Illinois Community College Trustees’ Association.
