One out of every 39 jobs in North Idaho is supported by North Idaho College, a new economic impact analysis found.

The Economic Value of North Idaho College report, released Wednesday, was an attempt to quantify the college’s impact on the North Idaho community. The study by Lightcast, a Moscow-based company, was commissioned by the college to look at the financial impact NIC had on the region over the 2023-24 fiscal year.

“These numbers confirm what we already knew — NIC delivers broad and lasting value,” said NIC President Nick Swayne. “The college boosts the economy, supports thousands of jobs, and puts money back into community. NIC is an investment that pays off tremendously.”

NIC added $273.2 million in income to NIC’s service area economy, or 2.1% of the area’s gross regional product. That equates to 3,992 jobs.

The college itself employs 869 full and part-time staff with a payroll of $44.1 million. Employee salaries and benefits make up 62% of the college’s spending.

Students paid $13 million in tuition, fees, and supplies last fiscal year but can expect $118 million in increased earnings over their working lives, the report said.

For every dollar students spend on their education, they can expect $4 in return.

Local taxpayers gave the college $44.7 million in funding. They can expect $38.1 million in added tax revenue and savings stemming from student’s higher lifetime earnings in return, the report found.

Overall, Idaho invested $91 million in NIC last fiscal year. The report found the Idaho economy will grow by $403 million in return over the course of student’s working lives.

“Reports like this give us the context we need to measure real impact,” Swayne said. “They hold us accountable. They show where we’re succeeding and where we can do even better.”

Read the full report here.