According to a recent economic impact study, Prescott College, a private, non-profit college located in Prescott, Arizona, has created an economic contribution of more than $19 million to Yavapai County.
PRESCOTT, Ariz., Aug. 29, 2023 /PRNewswire-PRWeb/ — According to a recent economic impact study, Prescott College, a private, non-profit college located in Prescott, Arizona, has created an economic contribution of more than $19 million to Yavapai County.
The study, conducted by Applied Economics LLC, found that in the last fiscal year, which began on July 1, 2022 and ended on June 30, 2023, the College supported job growth, engaged with the local economy, stimulated spending, and brought tourism to the area. This total economic contribution is made up of direct spending by Prescott College and its subsidiary Arizona Serve, as well as indirect contributions from purchases made locally, and the spending of students, faculty, staff, and visitors to the area.The college directly and indirectly supported an estimated 244 jobs and $7.9 million in annual labor income at the Prescott campus, and at other local businesses in the region that are supported by the college.
For Prescott College President Dr. Barbara Morris, it was tremendously important to conduct this study to fully recognize the economic impact of the College within the local community. “As a fixture of the City of Prescott for more than 55 years, Prescott College creates jobs, contributes to tourism, and stimulates the local economy through institutional expenditures and student, faculty, and staff spending. We are a vibrant community living, working, and studying in the City of Prescott. We are proud to play a pivotal role in the economic success and development of our home city of Prescott and Yavapai County.”
In addition to Prescott College’s annual economic contributions, the college has recently embarked on a $2.2 million campus revitalization project. This project, initiated and designed by Professor Tony Brown’s Psychology of Space class, focuses on improving the overall campus aesthetic through structural renovations, landscape and artistic elements. Campus buildings are being renovated to contribute to the updated flow of campus and provide exciting and safe spaces for students, faculty, and staff. Among these renovations include many exterior projects suggested and designed by students. Improvements in the campus revitalization project are ongoing and have thus far created six new jobs.
About Prescott College
Prescott College creates interdisciplinary, experiential, and diverse learning environments that inspire future leaders to create a healthy, just, and sustainable world. Committed to social justice and environmental sustainability, the college serves local and global communities through innovative and intellectually adventurous liberal arts and professional programs. For more information, visit http://www.Prescott.edu.
Media Contact
Heidi Robbe, Prescott College, 630-400-3329, [email protected], www.prescott.edu
SOURCE Prescott College
