Laurel Ridge boosts local economy by $265.7 million

Logo used by permission from Laurel Ridge Community College

A recent economic impact analysis revealed that Laurel Ridge Community College brought roughly $265.7 million to the local economy.

The largest portion of their impact comes from the increased earnings of Laurel Ridge Alumni and their employers.

This accounts for $227.4 million and supports over 2,900 jobs.

The college’s payroll and spending added an additional $24.5 million to the economy through consumer spending like groceries, rent, and other purchases.

The study also showed that for every dollar invested in Laurel Ridge, taxpayers receive $1.50 in value over the course of alumni’s work lives.

This comes from additional tax revenue made by alumni in the workforce.

A 2022 graduate with an associates degree will earn an additional $432,900 over the course of their career.

The study also anticipated Laurel Ridge students would save the region $4.5 million by reducing the demand on healthcare, justice systems, and welfare benefits.

Lightcast, a labor market analysis firm, conducted the study on the entire Virginia Community College System and a few individual schools, including Laurel Ridge.

A link to the announcement and the full report is available here.

For more news from across the Shenandoah Valley, click here.

LFCC officially becomes Laurel Ridge

luray-page county center

Lord Fairfax Community College officially became Laurel Ridge Community College.

Small ceremonies at its campuses in Middletown, Fauquier and Page County marked the name change. 

In July of 2021, the State Board for Community Colleges approved the name Laurel Ridge.

This followed the boards decision to review the suitability of their name at all colleges in Virginia Community College System.

College Board Chair Michael Wenger said at the Page County naming ceremony, “The past year, they have been building the foundation, not for an ending, but a beginning, and it starts right away.”

For more news from across the Shenandoah Valley, click here.