Better Higher Education Leads to a Better Regional Economy, Report Says

By Ann Schnoebelen. Findings released on Wednesday by the Milken Institute corroborate a view many in higher education have found themselves defending in recent years: A college education pays. In a report titled “A Matter of Degrees: The Effect of Educational Attainment on Regional Economic Prosperity,” the nonprofit, nonpartisan think tank says its research proves “the strong relationship between educational attainment and a region’s economic performance.”
The report associates education with increases in real gross domestic product per capita and real wages, linking the addition of one year in a worker’s average years of schooling to a 10.5-percent rise in a region’s real GDP per capita and a 8.4-percent rise in the region’s real wages. The regional jumps in GDP and wages grow even larger—to 17.4 percent and 17.8 percent, respectively—when applied to workers who already hold at least a high-school diploma. Read more...