Report: Indian River State College generates $1B for Florida's economy

(The Center Square) — A new report shows the huge success achieved by Indian River State College, which produces thousands of qualified graduates who are ready for the workforce every year.

According to Florida TaxWatch, the college’s operations generate an economic output valued at approximately $1 billion, with alumni spending creating more than 9,000 jobs and an additional economic output of $1.7 billion.

IRSC provides more than 130 certificate and degree programs across a four-county service area. In 2019, the college was awarded the Aspen Prize for Community College Excellence, which recognizes a college for its labor market outcomes and high completion and transfer rates for programs.

According to the report , the IRSC provides students with a high-quality education for almost 30% less than the national average cost for fees and tuition. Further, for every dollar spent by the college, it generates $6.69 in additional economic output.

For the 2021-2022 academic year, IRSC produced 4,248 graduates who majored in areas ranging from an associate arts degree — which had 1,761 graduates — to certification programs, which had a total of 1,249 graduates. Another 712 students graduated with a bachelor’s degree.

According to the report, IRSC's student population is highly diverse. Female students outnumber their male counterparts at 59.9%. For the school year 2021-2022, 6,752 students were first-generation college students, around 37% of the total student population.

The Florida Education and Training Program tracks the progress of high school, state college and university students. The program’s data from the 2020-2021 academic year shows that the average full-time annual salary of IRSC degree graduates was over $56,000.

IRSC’s PROMISE program provides scholarships to all students attending in person, despite their household income. Because of this, student debt is kept low and since its inception in 2022 over 4,000 first-time college students have been helped.

Florida TaxWatch commended IRSC's success, stating that the college is dynamic and benefits students with a high-quality education while keeping costs at a minimum.

"One thing is clear — IRSC is operating in a dynamic and financially sustainable way so that its students can continue to benefit from high-quality education and technical training programs without incurring a significant amount of student debt. IRSC has a unique and innovative approach to how it functions," Florida TaxWatch said.