A recent economic impact study conducted by Lightcast, a leading international provider of labor market analytics, reveals the significant financial contribution of County College of Morris (CCM) to the local economy. According to the study, CCM generated $586.1 million in added income for Morris County in fiscal year 2022-23, supporting 5,977 jobs—equivalent to one out of every 75 jobs in the region.
CCM’s impact extends beyond job creation. The institution plays a critical role in strengthening the regional workforce, bolstering local businesses, and generating substantial returns for state and local governments. The study notes that CCM’s contributions result in $11.0 million in public assistance savings by reducing reliance on welfare and unemployment benefits.
Additionally, over the course of students’ careers, New Jersey is projected to benefit from approximately $1.2 billion in added state revenue due to CCM-educated workers.
“At CCM, our mission is to help all members of the community achieve their educational and career aspirations, and in doing so, we fuel economic growth across Morris County and throughout the state,” said Dr. Anthony Iacono, president of CCM. “Contributing over half a billion dollars to the local economy and the state of New Jersey is no small feat—it’s a testament to the incredible value CCM provides to our community, businesses, and workforce.”
The study highlights CCM’s strong return on investment for key stakeholders:
- Students (11,680 served in 2023-24): For every $1 invested in their CCM education, students receive a $3.90 return in higher lifetime earnings.
- Taxpayers: Every $1 in public funding allocated to CCM generates $4 in tax revenue.
CCM’s ongoing commitment to workforce development, industry partnerships, and educational excellence solidifies its position as a key economic driver in Morris County. As a nationally ranked institution, CCM continues to serve as a critical pipeline for skilled professionals, ensuring businesses have access to a highly trained workforce while contributing to the overall economic vitality of the region.
