Economic Impact of Seattle Colleges
Seattle Colleges — comprised of North Seattle College, Seattle Central College, and South Seattle College — serves as a powerful economic engine, generating substantial value and returns for students, taxpayers, and society.
A recent economic impact study underscores the mutually beneficial relationship between Seattle Colleges, its students, taxpayers, and the broader community. The robust economic impact and impressive returns on investment demonstrate the vital role the institution plays as a cornerstone of shared prosperity and a contributor to the region’s success.
Two sets of reports were produced. The first set offers an executive report and a shorter fact sheet about the economic impact of Seattle Colleges as a district of three colleges. The second set offers similar documents focused only on the Seattle Promise program, which provides paid college tuition and wraparound support services for graduates of Seattle public high schools.
Seattle Colleges
Executive Summary
for Seattle Colleges
Print or view the 12-page Executive Summary - The Economic Value of Seattle Colleges.
Fact Sheet
for Seattle Colleges
Print or view the 3-page Fact Sheet - The Economic Value of Seattle Colleges.
Key Highlights for Seattle Colleges
- Seattle Colleges contributes $2.1 billion in added income to the King County economy, equivalent to approximately 0.5% of the county’s GRP, and supports over 17,000 jobs in the county. This seemingly modest percentage reflects a significant impact within King County’s vast economy, emphasizing Seattle Colleges’ enduring contribution through the development of a skilled and adaptable workforce.
- Students benefit from a return of $5.10 in higher future earnings for every dollar invested in their education, and an average annual rate of return of 19.7 percent.
- From a taxpayer perspective, every dollar of public money invested in Seattle Colleges, generates $1.80 in tax revenue and public sector savings. The investment yields $277.4 million in added tax revenue and $40 million in reduced demand for government-funded services in Washington.
- From a social perspective, Washington’s investment in Seattle Colleges is projected to grow the state economy by $4.4 billion over the course of students’ working lives, with an additional $63.6 million in public and private sector savings. For every dollar invested, Washingtonians will receive $10.90 in economic return and social savings, for as long as Seattle Colleges’ graduates remain active in the state workforce.
Seattle Promise
Executive Summary
for Seattle Promise
Print or view the 9-page Executive Summary - The Economic Value of Seattle Promise.
Fact Sheet
for Seattle Colleges
Print or view the 3-page Fact Sheet - The Economic Value of Seattle Promise.
Key Highlights for Seattle Promise
Seattle Promise is more than a scholarship program—it’s a smart, long-term investment in the future of Seattle. It helps young people build better lives, strengthens the economy, and delivers solid returns to taxpayers.
- Taxpayers will see $11.1 million in added tax revenues, including $5.9 million for the City of Seattle. An additional $2.5 million in public savings will come from reduced demand for services such as health care, housing assistance, and the justice system.
- Seattle Promise scholars are expected to earn a present value of $59.1 million more over their working lives thanks to their education. That’s a return of $12 for every $1 invested.
- The long-term impact of Seattle Promise extends beyond individual students and taxpayers. Based on the cohort of students served in FY 2022-23, the total community benefit of the Seattle Promise program is estimated at a present value of $181.8 million—$177.0 million in economic growth and $4.8 million in shared savings, including lower use of public services, improved community health, and increased civic participation. These benefits help strengthen the social and economic fabric of the region.
About the Analysis
These findings and more are derived from a two-pronged analysis of Fiscal Year (FY) 2022-23 data conducted by Lightcast. The report includes an economic impact analysis and an investment analysis, and quantifies the tangible benefits to key constituents.
Data and assumptions used in the study are based on several sources, including the FY 2022-23 academic and financial reports from the Seattle Colleges, industry and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, outputs of Lightcast’s Multi-Regional Social Accounting Matrix model, and a variety of studies and surveys relating education to social behavior. The study applies a conservative methodology and follows standard practice using only the most recognized indicators of economic impact and investment effectiveness.
Lightcast provides colleges and universities with labor market data that help create better outcomes for students, businesses, and communities. Lightcast's data, which cover more than 99% of the U.S. workforce, are compiled from a wide variety of government sources, job postings, and online profiles and résumés. Hundreds of institutions use Lightcast to align programs with regional needs, drive enrollment, connect students with in-demand careers, track their alumni’s employment outcomes, and demonstrate their institution’s economic impact on their region. Visit Lightcast's website to learn more and connect.