Carlsbad Current Argus
CARLSBAD >> Oil and gas industries are not the only boost behind the growing Carlsbad economy.
According to a study done by an economic consulting firm, New Mexico State University Carlsbad is bringing big bucks to the area and ensuring the potential future growth of Eddy County.
The largest impact comes from student spending in the community, where according to the study non-local students contribute $9.8 million to the county economy yearly and the increased productivity of workers in added income is approximately $200,000.
According to Khushroo Ghadiali, director of marketing and publications, NMSU Carlsbad is creating opportunities for students with programs targeting the community’s workforce needs. Programs such as nursing and the new health information technician program are showing promise, and collaboration with local businesses such as Intrepid Potash and The Mosaic Company benefit the local economy. It is a cooperative effort which NMSU Carlsbad utilizes to prepare its students to enter the workforce.
“We are always looking for any kind of program that businesses are interested in exploring,” Ghadiali said.
For every dollar invested by students of NMSU Carlsbad they will earn and project $6.10 in future salary, according to the report. The assumed total economic impact is $200 million yearly.
The presence of the university in Carlsbad contributes to improved health and reduced welfare, unemployment, and crime in the community amounting to close to $1.4 million in savings.
NMSU Carlsbad’s associate programs prepare graduates to earn $53,600 average yearly in income. Workers with an associate’s degree will earn approximately $588,000 more in their lifetime than those who only have a high school graduates.
According to the study Eddy County is projected to grow by over 12,000 jobs by 2021, jobs that NMSU Carlsbad is training students to fill.
The economic impact is boosted by the fact that 95 percent of Carlsbad students remain in New Mexico.
According to the study state and local governments receive a 7.7 percent return on their investment in NMSU Carlsbad and taxpayers who helped fund the $9 million government allocated funds in 2011 will see a $2.40 return in their investment.
“We are very happy to be part of this community and they support us in our endeavors and we look forward to helping out as much has we can,” Ghiadiali said.
Jessica Onsurez may be reached at 575-491-4682.