Maricopa Community Colleges has released new findings from a comprehensive economic impact study showing the 10-college system contributed nearly $9 billion in income to the local economy during the 2023-24 fiscal year. The study, conducted by Lightcast, demonstrates the system’s significant return on investment to its major stakeholder groups—students, taxpayers, society, and employers.
“Our system delivers value to the community not only through the affordable, accessible, high-quality education we provide our students, but also through the economic impact we generate for Maricopa County,” said Dr. Steven R. Gonzales, Maricopa Community Colleges Chancellor. “In fact, Arizona as a whole benefits from our 10 colleges and their students, fostering a stronger, more prosperous economy and enriching the lives of residents who call the county home.”
Why It Matters
Maricopa Community Colleges serves as an economic engine for the county, contributing nearly $9 billion to the local economy. This impact is more than double the economic footprint of Arizona's 2023 exports of semiconductors and other electronic components, which totaled $3.9 billion.
As the state’s largest community college system, Maricopa Community Colleges educates more Arizonans than any other college or university, with 90% of its students residing in Maricopa County. The system’s 10 colleges have a significant role in educating the regional workforce, offering more than 600 degree and certificate programs, including 11 workforce-aligned bachelor’s degrees.
By the Numbers
Here’s how the largest community college system in the nation adds economic value to the community:
- Supported over 108,000 local jobs, representing one out of every 30 jobs countywide.
- Generated $7 billion in added income from alumni currently working in Maricopa County, equivalent to supporting 86,700 jobs.
- Added $854 million to the economy through direct operations spending across 10 colleges.
- Employed nearly 10,500 full-time and part-time faculty and staff members, with a payroll spent locally on household-related expenses.
Return on Investments
An investment analysis found that every $1 invested in Maricopa Community Colleges to educate students returns:
- $5.20 in higher future earnings for students who invest in their education.
- $1.40 in taxpayer gains over the course of students’ working lives, which is an annual return rate of 2.7%.
- $9.90 in benefits that will accrue to Arizona over the course of students’ careers for as long as they remain employed in the state.
Learn more about Maricopa Community Colleges’ systemwide impact here.