Economic Impact 2017
Key Findings—2017 CRC Economic Impact Study
The following apply to the combined economic impact in 2017 of the six institutions of higher education located in Wake County.
Key Economic Impact Study Facts
• The six CRC campuses contributed an estimated $9 billion to the Wake County economy.
• They accounted for almost 219,000 jobs for faculty, staff, students, alumni and supplier firms.
• The totals represent 22 percent of all wage and salary income in the local economy and 40 percent of all Wake County jobs in that year.
• Total income effects in separate categories
o Faculty and staff salaries—$1124.6 million
o Operations expenses (excluding salaries and financial aid)—$690.4 million
o Spending by current students—$682.5 million
o Spending by alumni living in the area—$6380.5 million
o Spending on construction—$139 million
o Spending on athletic and cultural events—$28.9 million
Dr. Michael Walden, the William Neal Reynolds Distinguished Professor and Extension Economist at NC State University, prepared the 2017 Economic Impact Study and presented key results at Cooperating Raleigh College’s 50th Anniversary celebration at the Executive Mansion in downtown Raleigh on Sept.24, 2018.